Annuity deposit requirement mandates deposits at prescribed rates for persons under the relevant chapter, per statutory definitions. Every person to whom the relevant chapter of the Income-tax Act applies must make an annuity deposit for the assessment year beginning 1 April 1967 and ... Summary
Annuity deposit requirement mandates deposits at prescribed rates for persons under the relevant chapter, per statutory definitions.
Every person to whom the relevant chapter of the Income-tax Act applies must make an annuity deposit for the assessment year beginning 1 April 1967 and for deposits during the corresponding financial year at the rates specified in the Second Schedule; the terms "adjusted total income", "annuity deposit" and "depositor" are defined by reference to the statutory definitions in section 280B.
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