Rounding of tax amounts: paise at or above the half-rupee are rounded up to the nearest rupee. Amounts payable or refundable under the Act shall be rounded to the nearest rupee; paise at or above the half-rupee are increased to one rupee and paise ... Summary
Rounding of tax amounts: paise at or above the half-rupee are rounded up to the nearest rupee.
Amounts payable or refundable under the Act shall be rounded to the nearest rupee; paise at or above the half-rupee are increased to one rupee and paise less than the half-rupee are ignored. This rounding rule applies to tax, interest, penalty, fine and any other sum payable, and to refunds or other sums due.
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