Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com Assam Taxation (Procedure For Rounding Off) Act, 1971 18 of 1971 [02 July 1971] CONTENTS 1. Short title, extent and commencement 2. Procedure for rounding off SCHEDULE 1 :- SCHEDULE Assam Taxation (Procedure For Rounding Off) Act, 1971 18 of 1971 [02 July 1971] PREAMBLE 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 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:-- 1. Short title, extent and commencement :- (1) This Act may be called the Assam Taxation (Procedure for Rounding off) Act, 1971. (2) It extends to the whole of the State of Assam. (3) It shall come into force at once. 2. Procedure for rounding off :- (1) Notwithstanding anything contained in any of the taxation laws mentioned in the Schedule to this Act, where the amount of tax, penalty, interest, fee or other 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 from or, as the case may be, due to such person in accordance with such provision and all the provisions of such law shall apply accordingly. Explanation I:--Where the amount to be rounded off is exactly half of a rupee, the amount shall be rounded off to a rupee. Explanation II:--In this sub-section, "person", for the purposes of any of the taxation laws mentioned in the Schedule to this Act, means a person as defined in such law. Explanation III:--The taxation laws mentioned in the Schedule to this Act shall always be deemed to include any modification or re- enactment of any of such laws that may be made from time to time. (2) The provision of sub-section (1) shall not apply to:-- (a) fee payably in court fee stamps; (b) any amount, by whatever named called, payable as price of forms used or required to be used in accordance with any provision of any of the taxation laws mentioned in the Schedule to this Act. SCHEDULE 1 SCHEDULE See sub-section (1) of Section 2 Title of the Taxation Laws 1. The Assam Agricultural Income Tax Act, 1939 and the Rules framed thereunder as amended up to date read with the Annual Assam Finance Acts enacted since 1939. 2. The Assam Sales Tax Act, 1947 and the Rules framed (hereunder as amended up to date. 3. The Assam (Sales of Petroleum and Petroleum Products including Motor Spirit and Lubricants) Taxation Act, 1955 and the Rules framed thereunder as amended up to date. 4. The Assam Finance (Sales Tax) Act, 1956 and the Rules framed thereunder as amended up to date. 5 . The Assam Purchase Tax Act, 1967 and the Rules framed thereunder as amended up to date read with the Annual Assam Finance Acts, enacted since 1968.