Assam Taxation (Procedure For Rounding Off) Act, 1971

From Advocatespedia, ASSN: 4938
Jump to navigation Jump to search
Assam Taxation (Procedure For Rounding Off) Act, 1971
Total Sections
Enforcement Year 1971
State or Central State
Editor Template:USERNAME
ASSN: 4938

Add Content ASSAM ACT XVIII OF 1971 THE ASSAM TAXATION (PROCEDURE FOR ROUNDING OFF; ACT, 1971 (As passed by the Assembly) (Received the assent of the Governor on the 28th June 1971) [Published in the Assam Gazette Extraordinary, dated the 2nd July, 19711 An Act to provide for the simplification of the procedure of calculation of taxes, penalties, interest, refunds, rebates, etc., under certain laws of the State of Assam Preamble. Whereas it is expedient that the amount of tax, penalty, fee or other 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 the provision of the said laws is rounded off to the nearest rupee; It is hereby] enacted in the Twenty-second Year of the Republic of India as follows : Short title,1. (1) This Act may be called the Assam Taxation extent and(Procedure for Rounding off) Act, 1971. commencement. (2) It extends to the whole of the State of Assam. (3) It shall come into force at once. Procedure 2.(1) Notwithstanding anything contained in 71ny for round ingots the taxation laws mentioned in the Schedule to off. this Act, where the amount of tax, penalty, interest, fee or ether dues payable by a person 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 of 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 arrived at after such rounding off shall be deemed to be the amount due to terror or, as the case may be, due to such person in accordance with such provision and all the provision of such 1,:.w shall apply accordingly. The explanation I:—White the amount to be rounded off is exactly half of a rupee, the amount shall be rounded off to a rupee.