Section 44C:
Rounding off of net wealth.
1The amount of net wealth computed in accordance with the
foregoing provisions of this Act shall be rounded off to the nearest multiple of one hundred rupees and,
for this purpose, any part of a rupee consisting of paise shall be ignored and thereafter, if such amount
contains a part of one hundred rupees, then, if such part is fifty rupees or more, the amount shall be
increased to the next higher amount which is a multiple of one hundred and, if such part is less than fifty
rupees, the amount shall be reduced to the next lower amount which is a multiple of one hundred; and the
amount so rounded off shall be deemed to be the net wealth of the assessee for the purposes of this Act
Notes:
1. Ins. by Act 42 of 1970, s. 65 (w.e.f. 1-4-1971).