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<h1>Amended Section 280C: New Rules for Annuity Deposits Based on Adjusted Total Income for Different Assessment Years</h1> Section 280C of the Income-tax Act has been amended to replace sub-section (2). The new sub-section specifies the timing and manner of making annuity deposits based on adjusted total income. For assessment years starting on or before April 1, 1966, deposits must be made in advance according to sections 280E to 280I. For assessment years starting on or after April 1, 1967, deposits can be made anytime during the preceding financial year, either in a lump sum or installments, at rates specified in the Finance Act. The Income-tax Officer may permit deposits after the financial year under certain conditions.