The Assam Taxation (Procedure for Rounding Off) Act, 1971

tot ASSAM ACT XVIII OF 1971 THE ASSAM TAX/~TIO;-.l (PROCEDURE FOR ROUNlJlNJ ,JFl·;; ACT, 1971 (As passed by the A&sembly) (Received the assent of the Governor on the 28th June, 1971) [Published in the Assam Gazette Extraordinary, dated the 2nd July, 1971 I An Act to provide for the sunplification of the procedure of calculation of taxes, penalties, interest, refunds, rebates, etc., under certain laws of the State of Assam Pre .. mble. Whereas it is expedient that the amount of tax, penalty, fee or ether dues payable under certain taxation laws of the State of Assam and the amount of refund, rebate, set-off or draw-back under the said laws calculated in accordance with lhe provision of the said laws is rounded c..IT tu tht: nearest rupee; It is herebyJ enacted in the Twenty-second Year of the Republic of India as follows: -- Sh . 1 l.(l} This Act may be called rhe Assam Taxation e~~tot t~tn~ (Procedure for Rounding off) Act, 1971. commence· ment. (2) It extends to the whole of the State of Assam. l3) It shall come into force at once. Procedure 2.(1) Notwithstanding anything contained in ;iny for roundingof the taxation laws me ·1tioned in the Schedule to off. this Act, where the amount of tax, penalty, interest, fee or ether dues payable by a i:;crson or the amount of refund; rebate, set-off or draw ·back due to a person on any single occasion and arrived at in accordance with any provision cf such law is not a multiple of a rupee, the said amount shall be rounded off to the nearest multiple of a rupee and the amount arived at after such rounding off shall be deemed to be the amount due from or, as the case may be, due to sueh person in accordance with such provision and <:ll the provision :; of mch L:·..v shall apply accordingly. Explanation 1:-\Vhere the ai.~ount to be rounded off is exactly half of a rupee, the amount shall be rounded off to a rupee .