Section 44A. Rounding off of taxable gifts

6[ 44A. Rounding off of taxable gifts. — The amount assessed in accordance with the foregoing provisions of this Act as being the value of all taxable gifts shall be rounded off to the nearest multiple of ten rupees and, for this purpose, any part of a rupee consisting of paise shall be ignored and thereafter, if such amount is not a multiple of ten rupees, then, if the last figure in that amount is five or more, the amount shall be increased to the next higher amount which is a multiple of ten and, if the last figure is less than five, the amount shall be reduced to the next lower amount which is a multiple of ten ; and the 1. Subs. by Act 26 of 1988, s. 71, for "any order made" (w.e.f. 1-3-1988). 2. Ins. by Act 5 of 1964, s. 52 (w.e.f. 1-4-1964). 3. Subs. by Act 53 of 1962, s. 34, for section 43 (w.e.f. 1-4-1963). 4. Ins. by Act 45 of 1972, s. 24 (w.e.f. 1-1-1973). 5. Subs. by Act 16 of 1972, s. 54, for the portion beginning with words "The Central Government may" and ending with the words "for implementing the agreement." (w.e.f. 1-4-1972). 6. Ins. by Act 42 of 1970, s. 70 (w.e.f. 1-4-1971). amount so rounded off shall be deemed to be the value of all taxable gifts of the assessee for the purposes of this Act.