Amendment status not verified — confirm the current text below against the official source.
In calculating the interest payable under section 33, section 34, section 34A or section 36, the amount of net tax or any other tax payable or clue in respect of which such interest is to be calculated shall be rounded off to the nearest multiple of one hundred rupees, fifty rupees or more, it shall be increased to one hundred such part is less than fifty rupees, it shall be ignored."; (a) in the marginal note, for the words "tax or penalty", the words "net tax or any other tax, or penalty" shall be substituted; (b) for the words "tax or penalty", the words "net tax or any other tax, or penalty" shall be substituted; (28) in section 39,— (a) in sub-section (1), the proviso shall be omitted; (b) in sub-section (2), for the words "a Government Treasury or the Reserve Bank of India"; the words "an appropriate Government Treasury" shall be substituted; (29) in section 40,— (a) in sub-section (1),— (i) in the first proviso, in paragraph (iii), for the words and figures "under section 99", the words, figures and brackets "under sub- ',section (2) of section 99" shall be substituted; (ii) in the second proviso, for, the words, figures and brackets "sub- section (1) of section 18", the words, figures and brackets "sub- section (2) of section 18" 'shall be substituted; (b) in clause (a) of sub-section (2), for the words "a Government Treasury or Reserve Bank of India", the words "an appropriate Gote,rnment Treasury". shall be substituted; (c) in sub-section (5), for the words "the Government Treasury or the Reserve Bank of India.", the words "the appropriate Government Treasury." shall be substituted; (30) for Chapter VI, the following Chapter shall be substituted:— "CHAPTER VI Scrutiny and verification of returns and statements and documents furnished by a dealer, casual dealer, and audit of accounts and other documents maintained by a dealer. PART I Scrutiny and verification of returns furnished by, and audit of accounts and other documents maintained by, a dealer.