Rounding of tax amounts governs how fractional monetary parts are adjusted for final tax and refund calculations. Section 170 requires that amounts of tax, interest, penalty, fine or any other sum payable, and amounts of refund or any other sum due under the Act, be rounded to the nearest rupee, with paise of fifty or more increased to one rupee and paise less than fifty ignored.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Rounding of tax amounts governs how fractional monetary parts are adjusted for final tax and refund calculations.
Section 170 requires that amounts of tax, interest, penalty, fine or any other sum payable, and amounts of refund or any other sum due under the Act, be rounded to the nearest rupee, with paise of fifty or more increased to one rupee and paise less than fifty ignored.
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