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<h1>Amendment to Compulsory Deposit Scheme Act modifies section 3; exempts individuals over 70 from deposits; updates section 4 rates.</h1> The amendment to the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974, modifies section 3 by extending the requirement for compulsory deposits to assessment years starting from April 1, 1975, excluding those beginning on or after April 1, 1980. It introduces a new sub-section exempting individuals over seventy years old from making compulsory deposits. Additionally, section 4 is amended to specify the applicable rates for assessment years starting from April 1, 1977, excluding those on or after April 1, 1980.