9911796707
TMI BlogAmendment of Act 20 of 1967X X X X Extracts X X X X X X X X Extracts X X X X ..... ter XXIIA of the Income-tax Act, annuity deposit shall be made by every person to whom the provisions of that Chapter apply- (a) for the assessment year commencing on the 1st day of April, 1967, at the rate or rates specified in Part I of the Second Schedule; and (b) during the financial year commencing on the 1st day of April, 1967 (in relation to the adjusted total income of the previous yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e exceeds Rs. 20,000 but does not exceed Rs. 40,000 7 1/2 per cent. of the adjusted total income: Provided that the annuity deposit to be made shall in no case exceed the aggregate of the following sums, namely :- (a) an amount calculated at five per cent. on so much of the adjusted total income as does not exceed Rs. 20,000; (b) one-half of the amount by which the total income exceeds Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s not exceed Rs. 70,000; (b) one-half of the amount by which the total income exceeds Rs. 70,000. PART II RATES OF ANNUITY DEPOSIT TO BE MADE DURING THE FINANCIAL YEAR 1967-68 (i) In the case of any depositor whose total income does not exceed Rs. 15,000 Nil. (ii) In the case of any depositor whose total income exceeds Rs. 15,000 but does not exceed Rs. 20,000 6 per cent. of the adjusted t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n no case exceed the aggregate of the following sums, namely:- (a) an amount calculated at nine per cent. on so much of the adjusted total income as docs not exceed Rs. 40,000; (b) one-half of the amount by which the total income exceeds Rs. 40,000. (v) In the case of a depositor whose total income exceeds Rs. 70,000 15 per cent. of the adjusted total income : Provided that the annuity dep ..... X X X X Extracts X X X X X X X X Extracts X X X X
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