Central Government notifies that annuity deposits made or recovered during the year 1978-79 shall bear interest at the rate of 4 1/4 per cent u/s 280D - G.S.R.631 - Income Tax Act, 1961
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Annuity deposit interest under section 280D prescribed for the year, establishing the applicable rate for tax purposes. The Central Government, pursuant to the statutory interest provision of the Income-tax Act, notifies the annual interest rate applicable to annuity deposits made or recovered during the specified tax year, formalizing the applicable rate by Government notification for administrative implementation.
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Annuity deposit interest under section 280D prescribed for the year, establishing the applicable rate for tax purposes.
The Central Government, pursuant to the statutory interest provision of the Income-tax Act, notifies the annual interest rate applicable to annuity deposits made or recovered during the specified tax year, formalizing the applicable rate by Government notification for administrative implementation.
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