Section 12: Rounding off of income, value of asset and tax

Q: What does Section 12 of The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015 (TUFIAITR) deal with?

Section 12 TUFIAITR pertains to "Rounding off of income, value of asset and tax". It is part of the The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015, a legislation enacted by the Parliament of India. Section 12 of The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015 (TUFIAITR) governs rounding off of income, value of asset and tax. As verified on 19 May 2026.

Q: Is Section 12 TUFIAITR still in force?

Yes, Section 12 of the The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015 is currently in force across the Republic of India.

Q: What is धारा 12 TUFIAITR?

धारा 12 TUFIAITR is the Devanagari Hindi reference for Section 12 of the The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015. Section 12 of The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015 (TUFIAITR) governs rounding off of income, value of asset and tax. As verified on 19 May 2026.

Q: What is Dhara 12 TUFIAITR?

Dhara 12 TUFIAITR is the Roman Hindi reference for Section 12 of the The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015. "Dhara" means "Section" in Hindi. Section 12 of The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015 (TUFIAITR) governs rounding off of income, value of asset and tax. As verified on 19 May 2026.

Q: How to cite Section 12 of The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015?

Cite as: "Section 12, The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015 (TUFIAITR)" in legal briefs. For academic writing, use the BlueBook format: The Undisclosed Foreign Income and Assets (Imposition of Tax) Rules, 2015, § 12 (India).

Law on Tips Editorial Board

- For the purpose of section 79 the amount of undisclosed foreign income and asset computed in accordance with the Act and any amount payable or receivable by the assessee under the Act shall be rounded off to the nearest multiple of one hundred rupees or ten rupees, as the case may be and for this purpose, where such amount contains a part of a rupee consisting of paise then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise it shall be ignored.