https://www.taxtmi.com/acts?id=46115 Additional income-tax is imposed where a depositor fails to make, or makes less than, the annuity deposit required, subject to exemptions for depositors over seventy and for low total income (computed without section 280O). The further tax equals fifty per cent of a specified excess: for non-payment, the excess of the required annuity deposit over the difference between tax on total income and tax if income were reduced by that deposit; for shortfall, the excess of the deficiency over the similar tax difference. "Annuity deposit required" means the lesser of the deposit calculated on adjusted total income at applicable rates and the amount by which total income exceeds the income threshold. en-us Thu, 12 Dec 2024 15:05:34 +0530 Thu, 12 Dec 2024 16:37:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46115 Additional income-tax is imposed where a depositor fails to make, or makes less than, the annuity deposit required, subject to exemptions for depositors over seventy and for low total income (computed without section 280O). The further tax equals fifty per cent of a specified excess: for non-payment, the excess of the required annuity deposit over the difference between tax on total income and tax if income were reduced by that deposit; for shortfall, the excess of the deficiency over the similar tax difference. "Annuity deposit required" means the lesser of the deposit calculated on adjusted total income at applicable rates and the amount by which total income exceeds the income threshold. Act-Rules F. Acts / Amendment Acts Thu, 12 Dec 2024 15:05:34 +0530 https://www.taxtmi.com/acts?id=46115