Rounding off amount payable and refund due.

Any amount payable, and the amount of refund due, under the provisions of this Act shall be rounded off to the nearest multiple of ten rupees and for this purpose any part of a rupee consisting of paise shall be ignored and thereafter if such amount is not a multiple of ten, then, if the last figure in that amount is five or more, the amount shall be increased to the next higher amount which is a multiple of ten and if the last figure is less than five, the amount shall be reduced to the next lower amount which is a multiple of ten.]

¹ Ins. by Act 20 of 2015, s. 79 (w.e.f. 1-6-2015). 2. Ins. by Act 13 of 1966, s. 34 (w.e.f. 1-4-1966). 3. Subs. by Act 19 of 1968, s. 30 and the Third Schedule, for “(1) Subject to the provisions of sub-section (2), the amount of

total income” (w.e.f. 1-4-1969).

⁵ Subs. by Act 29 of 2006, s. 19, for section 288B (w.e.f. 13-7-2006).

4. Sub-section (2) and Explanation, omitted by s. 30 and the Third Schedule, ibid. (w.e.f. 1-4-1969).