Amendment status not verified — confirm the current text below against the official source.
Rounding off of tax, fee, penalty, fine, etc.-The amount of tax, fee, penalty, fine or any other sum payable and the amount of refund due, under the provisions of this Act shall be rounded off to the nearest rupee and, for thi:: 108 purpose, where such amount contams a part ot a rupee consist~ mg of paise, then if such part IS fifty paise or more, It shall be mcreased to one rupee and If such part IS less than fifty paise, it shall be Ignored