https://www.taxtmi.com/caselaws?id=56162 A compulsory deposit under the Compulsory Deposit Scheme is not an annuity for wealth-tax purposes because the yearly payments are treated as instalments of principal and interest, not periodic annuity receipts. The article also notes that any exemption for such deposits must come from the specific deeming relief under section 7A, read with section 5, rather than from the general exclusion for annuities in section 2(e)(2)(ii) of the Wealth-tax Act. Earlier contrary reasoning was rejected, and the deposit was treated as part of taxable wealth subject only to the limited statutory exemption provided by the scheme. en-us Tue, 16 Jun 1998 00:00:00 +0530 Thu, 02 Dec 2010 10:09:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56162 A compulsory deposit under the Compulsory Deposit Scheme is not an annuity for wealth-tax purposes because the yearly payments are treated as instalments of principal and interest, not periodic annuity receipts. The article also notes that any exemption for such deposits must come from the specific deeming relief under section 7A, read with section 5, rather than from the general exclusion for annuities in section 2(e)(2)(ii) of the Wealth-tax Act. Earlier contrary reasoning was rejected, and the deposit was treated as part of taxable wealth subject only to the limited statutory exemption provided by the scheme. Case-Laws Income Tax Tue, 16 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56162