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<h1>Finance Act 1969: Revised Tax Rates, Extended Tax Holidays, and New Provisions for Advance Payments and Penalties.</h1> The Finance Act of 1969 introduced several amendments to the Income-tax Act, Wealth-tax Act, and Companies (Profits) Surtax Act, effective from 1-4-1970. Key changes include revised tax rates for various taxpayer categories, increased exemptions for co-operative societies, and a simplified tax structure for registered firms. The Act also extended the 'tax holiday' for new industrial undertakings and ships until 1976 and provided tax relief for personal savings through life insurance. Additionally, it introduced new provisions for advance tax payments and penalties for non-compliance. The Wealth-tax Act was amended to include agricultural property, with specific exemptions provided.