Amendment of Act 38 of 1974

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....letters", the assessment year commencing on the 1st day of April, 1976, and the assessment year commencing on the 1st day of April, 1977." shall be substituted; (b) in section 4, in sub-section (1), for the words "a compulsory deposit for that assessment year at the rates specified in the Schedule.", the following shall be substituted, namely :- "a compulsory deposit, - ....

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.... cent. of the amount by which the current income exceeds Rs. 25,000; (3) where the current income exceeds Rs. 70,000 Rs. 5,500 plus 12 per cent. of amount by which the current income exceeds Rs. 70,000 : Provided that in a case (whether falling under Paragraph A or Paragraph B) - (a) where the current income exceeds Rs. 15,000 but does not exceed Rs. 15,620, the compulsory ....