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of <h1>Finance Act 1965: Annuity Deposit Rates Vary from 5% to 12.5% Based on Income Levels</h1> The Second Schedule of the Finance Act, 1965, outlines the rates of annuity deposits based on a depositor's total income. No annuity deposit is required for income up to Rs. 15,000. For income between Rs. 15,001 and Rs. 20,000, a 5% deposit is required, capped at half the amount exceeding Rs. 15,000. Income between Rs. 20,001 and Rs. 40,000 requires a 7.5% deposit, with specific caps. For Rs. 40,001 to Rs. 70,000, the rate is 10%, and for income above Rs. 70,000, the rate is 12.5%, each with detailed limits on the deposit amount. Total income is computed per the Income-tax Act.
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