https://www.taxtmi.com/circulars?id=4550 The circular explains the compulsory deposit regime under the 1974 Act and Scheme: liable persons (Indian individuals, Hindu undivided families, trustees of discretionary trusts and representative assessees) must make deposits when "current income" exceeds the statutory threshold; current and correct income are defined for advance tax payers and others. It prescribes graduated deposit rates with marginal and de minimis limits, timing and instalment options, accepted deposit offices, interest at the bank deposit rate, five year repayment in equal instalments commencing after two years, and fixed statutory penalties and recovery procedures with appeal rights. en-us Fri, 15 Nov 1974 00:00:00 +0530 Wed, 30 Jul 2008 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4550 The circular explains the compulsory deposit regime under the 1974 Act and Scheme: liable persons (Indian individuals, Hindu undivided families, trustees of discretionary trusts and representative assessees) must make deposits when "current income" exceeds the statutory threshold; current and correct income are defined for advance tax payers and others. It prescribes graduated deposit rates with marginal and de minimis limits, timing and instalment options, accepted deposit offices, interest at the bank deposit rate, five year repayment in equal instalments commencing after two years, and fixed statutory penalties and recovery procedures with appeal rights. Circulars Income Tax Fri, 15 Nov 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4550