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of <h1>Deadline Extension for Compulsory Deposit Scheme Act: New Repayment Rules for Seniors Effective June 1, 1981.</h1> The amendment to the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974, extends the deadline in sections 3 and 4 from April 1, 1982, to April 1, 1984. Additionally, section 8 introduces a new sub-section (1A), effective June 1, 1981, allowing for the repayment of compulsory deposits with interest. This repayment applies if the individual reached the age of seventy before April 1, 1981, on June 1, 1981, or otherwise on the first day of the financial year following the year they turn seventy. Sub-section (2) is also updated to include references to sub-section (1A).
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