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of <h1>Finance Act 1967: Continues Income Tax Rates, Modifies Annuity Deposits, Ends Salt Duty, Honors GATT Commitments</h1> The Finance Act, 1967, enacted by the Parliament of India, continues the existing income tax rates for the financial year 1967-68 with certain modifications. It maintains the rates for annuity deposits and upholds commitments under the General Agreement on Tariffs and Trade. Additionally, the Act discontinues the duty on salt for that year. It was assented to by the President on April 12, 1967, and is effective from April 1, 1967.
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