§ 516
Chapter XXIII — Miscellaneous
Rounding off of amount of total income, or amount payable or refundable
Income-tax Act, 2025
When calculating total income or any tax payable or refundable, the figure is rounded to the nearest multiple of ₹10, ignoring paise. If the last digit is 5 or more, the amount is rounded up to the next ₹10; if it is less than 5, it is rounded down.
📜 Official text of the section +
516. The amount of total income computed or any amount payable or refundable
under this Act, shall be rounded off to the nearest multiple of ` 10 ignoring
any part of a rupee consisting of paise and thereafter if such amount is not a multiple
of ten, then—
( a) such amount shall be increased to the next higher amount which is a
multiple of ten, if the last figure in that amount is five or more; or
( b) such amount shall be reduced to the next lower amount which is a mul-
tiple of ten, if the last figure is less than five,
and the amount so rounded off shall be deemed to be the total income of the assessee
or the amount payable or refundable, as the case may be, under this Act.
Receipt to be given.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.
Related sections
§ 499Certain transfers to be void§ 500Provisional attachment to protect revenue in certain cases§ 501Director or Director. Service of notice, generally§ 502Authentication of notices and other documents§ 503Service of notice when family is disrupted or firm etc., is dissolved§ 504Service of notice in case of discontinued business