AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
Whether annuity receivable under annuity deposit scheme is covered within the meaning of clauses (e)(iv)
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....8 [printed here as Annex] regarding the liability to wealth-tax of the value of the annuities receivable on the annuity deposits made under the relevant provisions of the Income-tax Act. On a reconsideration of the matter, the Board have decided that the annuities receivable under the annuity deposit scheme are generally non-commutable and, therefore, the value thereof should be exempted from weal....
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....t under the relevant provisions of the Income-tax Act is liable to wealth-tax in respect of the value of annuity receivable by him on such deposits. The position in the matter is explained in the following paragraph : 2. A person making an annuity deposit under the Income-tax Act is entitled to receive annuities in respect of the deposit over a period of 10 years commencing after the expiry of 12....
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....covered by this sub-clause as these annuities can be commuted in certain circumstances, as stated in the proviso to section 280D of the Income-tax Act. The value of annuities receivable in respect of the annuity deposit, as on the relevant valuation date, is , therefore, includible in the net wealth of an individual for the purposes of wealth-tax. Such value is equivalent to the amount that would ....
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....s from the date of deposit 8.75 87.50 875.00 After the expiry of 2 years but before 3 years from the date of deposit 7.85 78.50 785.05 After the expiry of 3 years but before 4 years from the date of deposit 6.72 67.19 671.91 After the expiry of 4 years but before 5 years from the date of deposit 5.58 55.75 557.50 After the expiry of 5 years but before 6 years from the date o....