Rounding off of duty, etc. [Section 154A] :

This section provides for the rounding off of the duty or any other sum payable under this Act. This provision is invariably found in all tax laws. The section is reproduced below:

The amount of duty, interest, penalty, fine or any other sum payable, and the amount of refund, drawback or any other sum 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.