Tax on life insurance business profits requires separate computation and additional deposit into specified social security fund. Tax on profits and gains of life insurance business is the aggregate of tax computed on the life insurance profits at the prescribed rate and the tax on the remaining total income as if those profits were excluded. For specified previous years an additional compulsory deposit-calculated as a proportion of the tax on life insurance profits-must be made into a government notified social security fund, with a proviso reducing the tax where the assessee makes a prescribed deposit into that fund.