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Section 288B – Income Tax Act, 1961

Income Tax Act, 1961

 

 

Section 288B. ROUNDING OFF OF TAX, ETC.

 

 

The amount of tax (including tax deductible at source or payable in advance), interest, penalty, fine or any other sum payable, and the amount of refund due, under the provisions of this Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise, then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise, it shall be ignored.

 

 

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Income Tax Act, 1961 

 

Indian Laws – Bare Acts

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