Amendment status not verified — confirm the current text below against the official source.
The amount of tax or penalty payable or refundable for any period under the provisions of this Act shall be rounded off to the nearest rupees and for this purpose, where such amount containing a part of a rupee, then, if such part is fifty paise or more, it shall be increased to one rupee, and if such part is less than fifty paise it shall be ignored. Power to take evidence on Oath etc. :-