Rounding of tax amounts: sums under the Act are rounded to the nearest rupee; fractional paise adjusted. The Act requires amounts of tax, interest, penalty, fine or any other sum payable, and amounts of refund or any other sum due, to be rounded off to the nearest rupee; fractional parts expressed in paise are adjusted upward to the next rupee when reaching the statutory rounding threshold and ignored when below it.
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: sums under the Act are rounded to the nearest rupee; fractional paise adjusted.
The Act requires amounts of tax, interest, penalty, fine or any other sum payable, and amounts of refund or any other sum due, to be rounded off to the nearest rupee; fractional parts expressed in paise are adjusted upward to the next rupee when reaching the statutory rounding threshold and ignored when below it.
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