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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Amendment to Section 280W: New Rules for Managing Annuity Deposits Refunds and Adjustments in Income-Tax Act.</h1> Section 280W of the Income-tax Act is amended in clause (b) of sub-section (2) by replacing the existing text with new provisions. The amendment specifies the manner in which annuity deposits, either not required under the chapter's provisions or those in excess or deficient, can be refunded, adjusted, or otherwise managed. It also introduces considerations for factors that may influence these processes. This change is part of the Finance (No. 2) Act, 1965, enhancing the clarity and management of annuity deposits within the tax framework.