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of <h1>Wealth Tax Act Section 44D: Round wealth-tax amounts to nearest rupee; round up if 50 paise or more.</h1> Section 44D of the Wealth Tax Act, 1957, mandates that any amount of wealth-tax, interest, penalty, fine, or refund due under the Act must be rounded to the nearest rupee. If the amount includes paise, it should be rounded up to the next rupee if it is fifty paise or more; otherwise, it should be disregarded. This provision was introduced by the Taxation Laws (Amendment) Act, 1970, effective from April 1, 1971.
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