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<h1>Finance Act 1966 Amends Estate Duty Act: Extends Time Limit, New Clause for Deceased Police, Updates Duty Rates</h1> The Finance Act of 1966 amends the Estate Duty Act, 1953, by extending the time limit from 'one year' to 'two years' in various sections. It introduces a new clause for property belonging to deceased police force members killed in action. The Second Schedule is replaced, detailing estate duty rates based on the principal value of the estate, with rates ranging from 4% to 85% for estates exceeding specific thresholds, starting from Rs. 50,000. These amendments are effective from April 1, 1965, and adjust the taxation framework for estate duties.