https://www.taxtmi.com/acts?id=3961 Calculation of interest under the Income-tax Rules uses prescribed rounding conventions: annual periods are rounded down to whole months while month-by-month calculations treat any fractional month as a full month, and the tax, penalty or other sum on which interest is computed is rounded to the nearest prescribed currency multiple with fractional units ignored; the rounded period and amount are the operative inputs for interest computation. en-us Sat, 19 Jan 2008 22:45:54 +0530 Mon, 18 Oct 2021 14:33:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3961 Calculation of interest under the Income-tax Rules uses prescribed rounding conventions: annual periods are rounded down to whole months while month-by-month calculations treat any fractional month as a full month, and the tax, penalty or other sum on which interest is computed is rounded to the nearest prescribed currency multiple with fractional units ignored; the rounded period and amount are the operative inputs for interest computation. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3961