Subject NOT available

No.

Date of Deposit

ANNUAL PAYMENT PAYABLE AT

Amount of Deposit Rs Rupees

, This Certificate entitles

to receive an annual payment of Rg Rupees

for a period of tein years, as per the Schedule below, subject to the provisions of the Annuity Deposit Scheme, 1966.

By order of the President of India Public Debt Office, Reserve Bank of India,

Governor, Reserve Bank of India.

Date of Issue

Far Manager.

Schedule

First payment will be due on

Subsequent payment in every succeeding year will be due on

Last payment will be due on "

[No. F. 16(2)-W&M/86.] A. R, SHIRALI, Jt. Secy.

S"c. ) ( i )]

,GA . OF . . . ..

(Department of Revenue and Insurance)

INCOME-TAX

New Delhi, the 30th December 1966

G.S.R. 2033.—In exercise of the powers conferred by section 280W of the Income-tax Act; 1361 (43 of 1961), the Central Government hereby makes the following Scheme, namely:—

1. Short title, commencement and application.—(l) This Scheme m ay be called the Annuity Deposit Scheme, 1966.

(2) It shall come into force on the 1st day of February, 1967.

(3) It applies to all persons to whom the provisions of Chapter XXII-A of the Income-tax Act, 1961 (43 of J961) apply in relation to the assessment year commencing on the 1st clay of April, 1967, or any subsequent assessment year.

2. Definitions.—(1) In this Scheme, unless the context otherwise requires,—

(a) "Act" means the Income-tax Act, 1961 (43 of KG1);

(b) "Annuity Deposit Certificate" means a Ten Year Annuity Deposit Certificate the form of which has been prescribed by the Central Government in the Government of India, Ministry of Finance (Department of Economic Affairs) Notification No. G.S.R. 2D32. dated the 30th December, 1968. and which is issued as evidence of annuity deposit;

(c) "deposit office" means—

(i) any office of the Reserve Bank of India at Bombay (Fort and By- culla), Calcutta, New Delhi, Madras, Bangalore, Kanpur and Nagpur;

(ii) any branch within India of the State Bank of India or any of its subsidiary banks;

(iii) any other office authorised by the Central Government to accept annuity deposits;

(d) "paragraph" means a paragraph of this Scheme and "sub-paragraph" means a sub-paragraph of the paragraph in which it occurs;

(e) "Public Debt Office" means an office of the Reserve Bank of India on the books of which a Ten Year Annuity Deposit Certificate is regis- tered or may be registered;

(f) "section" means a section of the Act.

(2) All references to "Forms" in this Scheme shall be construed as references to the forms set out in Appendix I hereto.

3. Basis of making annuity deposit.—Every depositor who is required to make an annuity deposit in respect of the adjusted total income of the previous year or previous years relevant to the assessment year commencing on the 1st day of April, 1967, or any subsequent assessment year, shall make such deposit in an amount calculated at the rate or rates specified in the annual Finance Act on the adjusted total income of such previous year or previous years as estimated by him,

4. Deposit when to be made.—(1) Save as provided hereinbelow, annuity deposit in relation to any assessment year commencing on the 1st day of April,

1967, or any subsequent assessment year, shall be made at any time (in one sum or in instalments of the depositor's choice) during the financial year immediately preceding such assessment year (which financial year is hereafter, in this Scheme, referred to as relevant financial year).

(2) Notwithstanding anything contained in sub-parfegraph (1), the Income- tax Officer may, on an application by the depositor in Form A made on or before the specified date, by order in writing, allow the depositor to make a deposit or, as the case may be, a further deposit afttr the expiry of the relevant financial year, where—

(i) the depositor is a person whose total income includes any income from¹ business or profession, the previous year in respect of which expired after the 31st day of December of the year immediately preceding' the assessment year and he has during the relevant financial year made a deposit in an amount which is not less than seventy-five per cent of the amount required to be deposited in respect of the adjusted total income as determined on the basis of the total income returned, and, further, satisfies the Income-tax Officer that he was prevented by exceptional or unforeseen circumstances from making a correct estimate of his adjusted total income and that his failure to make, during the relevant financial year, the lull amount of deposit required to be made, was solely attributable to such circumstance; or

(ii) the depositor is absent from India throughout the relevant financial year; or

(iii) the depositor had died before the expiry of the relevant financial year and the legal representative of the deceased depositor satisfies the Income-tax Officer that he was prevented by sufficient cause from •making a deposit or, as the case may he, the full amount of the deposit required to be made, during the relevant financial year; or

(iv) the depositor is a firm which is refused registration or the registra- tion of which is cancelled or does not have effect for the relevant assessment year; or

(v) the depositor produces evidence to the satisfaction of the Income-tax Officer that he was prevented by sufficient cause from making the deposit or the full amount of the deposit required to be made, during the relevant financial year:

Provided that the further period so allowed by the Income-tax Officer under this sub-paragraph shall, in no case, extend beyond a period of thirty days irom the date of his order:

Provided further that the previous approval of the Inspecting Assistant Commissioner shall be obtained before allowing the depositor, under clause (v), to make a deposit or, as the case may be, a further deposit after the expiry of the relevant financial year.

(3) For the purposes of sub-paragraph (2), the expression "specified date" means—

(a) in a case referred to in clause (i) or clause (iii) or clause (v) of that sub-paragraph, the date for furnishing the return under section 139. whether fixed originally or on extension;

(b) in a case referred to in clause (ii) of that sub-paragraph, thirtv days from the date on which the depositor returned to India; and

(c) in a case referred to in clause (iv) of that sub-paragraph, thirty days from the date on which the order refusing registration or the order cancelling registration or, as the case may be the notice of demand relating to the regular assessment was served on the depositor.

5. Manner of deposit.—(1) Every person required to make annuity deposit shall make such deposit at any deposit office either in cash or by cheque drawn in favour of that deposit office along with an application in Form B, or as near thereto as may be.

(2) Where the depositor is a firm or an association of persons [not being 0 society registered under the Societies Registration Act, 1860 (21 of I860)], or a body of individuals, the application under sub-paragraph (1) shall be accompanied by a declaration in respect of its constitution in Form C.

(3) Where the depositor is a society registered under the Societies Registra- tion Act, 1860 (21 of 1860), the application under sub-paragraph (1) shall be accompanied by the following documents, namely:—•

(a) A true copy of the certificate of registration;

(b) a true copy of the bye-laws, rules and regulations of the society; nnd

(4) The application under sub-paragraph (1) shall be signed—

(a) in the case of an individual not being a minor, by the individual himself; where such individual is dead, by his legal representative* and where the individual is a minor or is mentally incapacitated from attending to his affairs, by his guardian or by any other person competent to act on his behalf;

(e) in the case of any other person, by that person or by some person competent to act on his behalf.

(5) On receipt of an application under sub-paragraph (1) together with the amount of deposit, the deposit office shall issue a receipt in Form D to the depositor specifying the date on or after which the receipj; may bo surrendered in exchange for the Annuity Deposit Certificate.

(6) On the depositor surrendering the receipt duly discharged, the deposit •office shall deliver to the depositor the Annuity Deposit Certificate and where the depositor has elected to keep the Annuity Deposit Certificate in the safe custody of the Public Debt Office, the Memorandum of Deposit in respect of the Certificate and the counterfoil thereof.

6. Evidence of payment of annuity deposit.—Every depositor shall, for the purpose of claiming a deduction in computing his total income under section 280-O of the amount of annuity deposit made by him in relation to any assess- ment year, furnish, along with his return of income for that assessment year, the counterfoil of the relevant Annuity Deposit Certificate together with a state- ment in Form E.

7. Payment of annuity.—(1) The deposit office at which the Annuity Deposit Certificate is enfaccd for payment shall pay to the depositor the annuity—

(a) where the deposit office is an office of the Reserve Bank of India, on

the depositor producing the Certificate;

(b) in any other case, on the depositor producing the Certificate and

furnishing a receipt in Form F:

Provided that where any Annuity Deposit Certificate is kept in the safe custody of the Public Debt Office, that office shall remit the amount of the annuity to the depositor at his cost or, as the case may be, forward the annuity warrant to the Bank or Post Office designated by the depositor.

(2) (a) In the case of a deceased depositor who has not made a nomination under paragraph 13, the annuity shall be payable to his legal representative.

(b) In the case of a minor, lunatic or idiot, the annuity shall be payable to his guardian or manager for the benefit of such minor, lunatic or idiot.

(c) In the case of a firm, an association of persons or a body of individuals, the annuity may be paid to the firm, association of persons or body of Individuals, a3 the case may be, or to any partner or member thereof.

(3) The payment of the annuity referred to in sub-paragraph (1) or sub- paragraph (2) shall commence after the expiry of one year from the date of deposit.

Explanation.—For the purposes of this sub-paragraph, the "date of deposit" means the date on which the cash or cheque along with the application is received by the deposit office.

(4) The holder of an Annuity Deposit Certificate enfaced for payment at any deposit office may make an applications for change of enfacement to the deposit office at which it stands enfaced for payment or to the deposit office at which the change of enfacement is desired or to the Public Debt Office.

(5) An Annuity Deposit Certificate shall not be transferable.

8. Payment of commuted value of annnity.—(1) The Income-tax Officer exer- cising jurisdiction under the Act in the case of a person entitled to receive any annuity shall be tJje authority competent to authorise the payment of the com- muted value of such annuity.

(2) An application for payment of commuted value of annuity under this paragraph shall be made in quadruplicate in Form G to the Income-tax Officer.

(3) Where the Income-tax Officer authorises the payment of the commuted value of uny annuity, he shall issue to the person entitled to receive the annuity an order in writing requiring the deposit office at which the Annuity Deposit Certificate is enfaced for payment to pay him the amount of the commuted value of the instalments of annuity which remain to be paid and shall advise the deposit office accordingly.

(4) On production of the order of the Income-tax Officer by the person con- cerned and on receipt of the advice from the Income-tax Officer, the deposit office shall make the payment of the amount of such commuted value in accordance with the Table in Appendix II hereto—

(a) in a case where the Annuity Deposit Certificate is kept In the safe custody of the Public Debt Office, on the person concerned surrendering the Memorandum of Deposit, and

(b) in any other case, on the person concerned surrendering the Annuity

Deposit Certificate duly discharged.

9. Refund of annuity deposit.—(1) Any amount deposited or purported to be- deposited by way of annuity deposit may be refunded in the cases specified below, namely:—

(a) where the deposit is made by any person to whom the provisions of

Chapter XXIIA do not apply;

(b) where the total income of the person who made the deposit for the relevant assessment year as finally determined does not exceed fifteen thousand rupees;

(c) where the person who made the deposit is not otherwise required to

make any annuity deposit.

, GA ,

SEC, 3(1)]

(2) An application for refund under this paragraph shall be made in quadruplicate in Form H to the Income-tax Officer.

(3) If the Income-tax Officer is satisfied, after making such enquiry as he deems flt. that the applicant is entitled to a refund of the amount of deposit made by him, he shall issue to the person entitled to the refund an order in writing requiring the deposit office at which the Annuity Deposit Certificate is enfaced for payment to grant him a refund,—

(i) in a case where no payment of annuity in respect of the amount deposited by such person has been made, of the full amount deposited by him;

i

(ii) in a case where any payment of annuity in respect of the amount deposited by such person has been made, of the amount deposited by such person as reduced by the amount of annuity paid to him;

and shall advise the deposit office accordingly.

(4) On production of the order of the Income-tax Officer by the person con- cerned and on receipt of the advice from the Income-tax Officer, the deposit office shall compute the amount of refund due to such person in accordance with the provisions of sub-paragraph (3) and refund the amount so computed—

(a) in a case where the Annuity Deposit Certificate is kept in the safe custody of the Public Debt Office, on the person concerned surrendering the Memorandum of Deposit, and

(b) in any other case, on the person concerned surrendering the Annuity

deposit Certificate

duly discharged.

(5) Where, prior to the grant of a refund under this paragraph, any payment of annuity in respect of the amount deposited by a person has been made to him, the amount of ainnuity so paid shall not be included in his total income.

10. Adjustment of excess deposit.—(1) Where, on completion of the regular assessment for any assessment year or as a result of an order under section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 264, it is found that the amount already deposited by the depositor for any assess- ment year is in excess of the annuity deposit required to be made by him for that assessment year and the provisions of paragraph 9 do not apply, the depositor shall be entitled to adjust the amount of such excess by way of reducing the amount of annuity deposit required to be made in the financial year in which the regular assessment is made or any of the orders aforesaid is passed, and thereupon the amount of the excess so adjusted, shall, for the purposes of the deduction under section 280-O, be treated as annuity deposit actually made by the depositor during such financial year.

(2) Where the excess of annuity deposit cannot be adjusted or fully adjusted under sub-paragraph (1), the annuity or the commuted value of the annuity includible in the total income of the depositor assessable for any assessment year shall be reduced by an amount equal to such excess and for this purpose the reduction shall first be made from the total income assessable for the assessment year next following the financial year in which the deposit was made and to the extent, if any, the excess is not so adjusted, the reduction shall be made from the total income assessable for the next assessment year and so on.

11. Deposit made by an unregistered firm assessed under section 183(b).—(1) Where an unregistered firm has made an annuity deposit for an assessment year and the firm is assessed under clause (b) of section 183 for that assessment year, the Income-tax Officer shall make an order authorising the payment of the com- muted value of any annuity due to the firm in respect of such deposit, and shall send a copy thereof to the firm and advise the deposit office accordingly.

(2) On production of the order of the Income-tax Officer by the firm and on receipt of the advice from the Income-tax Officer, the deposit office shall make the payment of the amount of such commuted value in accordance with the Table in Appendix II hereto-—

(a) in a case where the Annuity Deposit Certificate is kept in the safe custody of the Public- Debt Office, on the firm surrendering the Memorandum of Deposit, and

(b) in any other caae, on the firm surrendering the Annuity Deposit Certi- ficate

duly discharged.

(3) Where such annuity or the commuted value of such annuity has been included in the total income of the firm assessable for any subsequent assessment year, the amount of such inclusion, to the extent it does not consist of interest accrued on the annuity deposit made, shall' be excluded from the total income assessable for such subsequent assessment year.

12. Payment of annuity In the case of dissolved firms, associations of persons or bodies of individuals—Where any firm or association of persons or body of individuals which has made an annuity deposit in respect of any assessment year is dissolved before the receipt of all the annuities in respect of such deposit, the annuity shall be paid to the persons who were its partners or members Immediately before its dissolution in such proportion as the Income-tax Officer may, having regard to the proportion in which they were entitled to share the profits in the previous year in which the dissolution took place, direct.

13. Nominations.—(1) A depositor, being an individual, may nominate in Form J, or as near thereto as may be, one or more individuals who shall be entitled to receive the annuity payable to him in the event of his death.

(2) Where any annuity is payable to two or more nominees and either or any df them dies before such payment is made, the amount shall be paid to the sur- viving nominee or nominees.

(3) No nomination shall be made in respect of annuity deposit made on behalf of a minor.

(4) A nomination made by a depositor may be varied by a fresh nomination in Form J or as near thereto as may be, or may be cancelled by giving notice in writing to the Public Debt Office in Form K.

(5) Every nomination and every cancellation or variation thereof shall be registered at the Public Debt Office- and shall be effective from the date of such registration.

(6) If the nominee is a minor, the depositor may appoint any person to receive the amount due in the event of his death during the minority of the nominee.

14. Declaration under the proviso to section 280P to person paying salary.— (1) A person whose estimated income chargeable under the head ''Salaries" for any financial year does not exceed twenty-five thousand rupees may, for the pur- poses of the proviso to section 280P, furnish, on or before the 31st day of Decem- ber of such financial year, a declaration in Form L or as near thereto as may be to the person responsible for paying him such income of his intentiqn to make the annuity deposit under the provisions of Chapter XXIIA and the amount which he so intends to deposit.

(2) On receipt of a declaration in Form L, the person responsible for paying such income to the declarant shall deduct income-tax from such income as if such income had been reduced by the amount of annuity deposit specified in such declaration.

15. Special provision.—Where any depositor has, before the 1st day of February 1967, made an annuity deposit under the Annuity Deposit Scheme, 1964, in rela- tion to the assessment year commencing on the 1st day of April, 1967, the deposit so made shall be deemed to be a deposit under the Annuity Deposit Scheme, 1966,—

(a) the amount so deposited shall stand transferred as a deposit under this Scheme,

Ob) the annuity deposit certificate issued under the first mentioned Scheme shall be deemed to have been issued under this Scheme,

and all the provisions of this Scheme shall, notwithstanding sub-paragraph (2) of paragraph ], apply accordingly in relation to that deposit as If this Scheme had come into force on the date the deposit was made.

~*~-, ... - .. 977

APPENDIX I

FORM A

ANNUITY DEPOSITS

Application for allowing further time for making annuity deposit [See paragraph 4(2) of the Annuity Deposit Scheme, 1966.J

To

The Income-tax Officer,

Sir,

Under paragraph 4 (1) of the Annuity Deposit Scheme, 1966,

I/We* ~ — — —— —

(Name of Depositor)

have/had* to make an annuity deposit during the financial year 19 19 in relation to the assessment year commencing on 1st April, 19 .

2.1" The deposit has to be* made by me/us* as

had to be

~ of — — — • • •

""

guardian legal representative karta member partner

3. I/We* have so far deposited an amount of Hs,

not deposited any amount

to be made by me/us* is Rs. For the rea- towards the annuity deposit required to be made. The estimated amount of deposit* further deposit sons given below, it will not be* possible for me/us to make the deposit* ^ has not been

full amount of deposit during the said financial year,

Statement of Reasons®

4. It is, therefore, requested that I/We* may be allowed to make^a deposit*

further deposit under paragraph 4(2) of the Annuity Deposit Scheme, 1966.

Yours faithfully,

Date

Place

Signature**

Name (in full)

Address (in full)

•Delete inapplicable words.

•[•Score out paragraph 2, if not applicable.

(a) Some of the circumstances which would jujstify the grant of further time to make the deposit or further deposit are specified in paragraph 4(2) of the Scheme, If the space provided herein is insufficient, separate enclosure may bo used for the purpose.

•*The application should be signed by a person who is entitled to sign an appli- cation for issue of Annuity Deposit Certificate under paragraph 5(4) of the Annuity Deposit Scheme, 19b"6.

FORM B

ANNUITY DEPOSITS

Application /or issue of Annuity Deposit Certificate

[See paragraph 5(1) of the Annuity Deposit Scheme, 1966]

Receiving Office Application No

I/We*

_ (in block capital letters)

herewith tender cash/cheque** for Rs being my/our annuity deposit to be made under the provisions of the Annuity Deposit Scheme, 1966 and request that a Ten Year Annuity Deposit Certificate may be issued to me/us for the above amount.

t2. The deposit is made by me as legal representative of

who died on 19—— .

(name of deceased)

f-j-3. The deposit is made by me as guardian on behalf of

who is a minor and whose date of birth is ,

The Annuity Deposit Certificate may be issued in his/her name,

@4. The deposit is made by me as Karta of

r a Hindu undivided family.

@@5. The annuity may be paid at

(Here insert the name of the Bank i.e., Reserve Bank of India or State Bank of India or any of its subsidiary banks and place¹ at which payment is desired)

The Annuity Deposit Certificate may be kept in the safe custody of the Public Debt Office and

(a) annuity thereon may be remitted by momey order to

(Here state the name and address of the holder) after deduction of the usual remittance charges, at my/our risk and responsibility; or

(b) Annuity warrant thereon may be made payable at (Place)

;

(Reserve Bank of India, State Bank of India or any of Its subsidiary banks)

and forwarded to

(Here state the name and full address of the depositor)

Or

(c) Annuity warrant may be forwarded to

(Name ott Bank or Post Office)

for credit to my/our Account No

§6. I wish to make a nomination in respect of the Certificate applied for. Ther prescribed nomination form is enclosed/I do not wish to make a nomination in respect of the Certificate applied for, at present.

Signature of the depositor

Date Name (in full) ..., _....~.. Place

Address (in full)

NOTES :*In the cise of a finr, an association of persons (other than a society registered under th2 Societies Registration Act, 1S60) or a body of individuals, trie application should fee accompanied' by a declaration in respect of its constitution in From C. In the case of a society registered under t h: Safeties Registration Act, i860, the application should be accompanied by a true copy of the' certificate of registration, a true copy of its bye-law's, rules and regulations and a copy of the reso- lution (certified to be true by its principal officer) specifying the designations and names of tha.' officials who shall be entitled to receive the annuity on behalf of the society.

**Delete whichever is not applicable.

fFor deprisit on behalf of deceased individuals.

ttFor deposit on behalf of minors. @For deposit on behalf of a Hindu undivided family. ' @3}Scorc out whichever is not applicable.

§0.ily for individuals who arc not minors. Delete whichever is not applicable.

Annuity Deposit Certificate

for Rs

issued.

For Manager

Public Debt Office, Restive Bank of India-

F O R MC

ANNUITY DEPOSITS

Declaration Regarding Comtitutian of Firm, Association of persons or body of individuals

[See paragraph 5(2) of the Annuity Deposit Scheme, 1966I

Address

^

Dated

The Manager, Reserve Bank of India, Public Debt Office,

Sir,

The firm/association of persons/body of individuals of Messrs

ia constituted by the undermentioned partners/members whose specimen signatures are a* follows :—

Yours faithfully,

(PartnerlMember)

Name of partners/members Specimen signature for the flrm/associaixon

of persons/body of individuals.

1

•

2

•

3

*

Identificd by :—

Banker

Income-tax Officer

Treasury Officer"

Magistrate

Justice of the Peace

N.B *(l) The partners/members should sign in their personal names, on behalf of the firm/ association of parsons/body of individuals.

(2) Delete inappropriate words.

FORM D

ANNUITY DEPOSITS

Receipt [See paragraph 5(51 of the Annui'y Deposit Scheme, 196b]

No

(Rupees

Received from Gj3h*/Gheque for R3 for th= issue of Annuity D:p"uit Certificate under the Annuity Deposit Scheme, 1966.

Agent/Manager

Place : X>ate

• .. (Name of Bank)

NOTES, ( I) This receipt should be preserved carefully and presented on or after duly discharged fir obtaining delivery of the Annuity Deposit Certificate.

(2) The Bank reserves t\t right to refuse delivery of the Annuity Deposit Certificate until this receipt is surrendered properly discharged.

(3) Where the dep isit is nude by cheque, the Annuity Deposit Certificate will be issued only after the cheque is realised. •Delete whichever is not applicable,

FORM OF DISCHARGE

relevant counterfoil for Rs

•Received Annuity Deposit Certificate along with the ).

(Rupees

(in words)

fReceivcd^Memorandum of Deposit No

covering.. ,.

Annuity Deposit Certificate for Rs

^Rupees.".'.". '. ) along with the counterfoil of the Certificate.

Signature of depositor.

*To be CJirtplettd where the Annuity Deposit Certificate is not to be kept in the safe custody of the Public Debt Office.

t To bi cJjrplctsi where th: Annuity Deposit Certificate is to be kept in the safe custody of the Public Debt Office.

FORM E

ANNUITY DHPOSTTS

Intimation of Annuity Deposits

[Stc paragraph 6 of the Annuity Deposit Scheme, 1966]

From

(Name of depositor)

(address of depositor)

To

The [nconv-tax Officer,

I/We am/are sending herewith

counterfoil(s)

(total number of counterfoils)

of the Annuity Deposit Gcrcificate(s) issued tome/us through.. ,

- . . (name and address of deposit office)

19.. , ., particulars whereof are stated herein below.

o tl

Annuity deposits in respect of the assessment year commencing on the 1st April, 19 -

Distinguishing Number of Annuity

Amount Rs.

Deposit Certificate

SI. No'

1

TOTAL

Signature of depositor

Date

NOTES:—(O Delete the words which are inappropriate.

(2) Where an annuity deposit relates to more than one assessment year, an intimation io] ra should be seni in respect of the deposit relating to each year, separately.

(3) The depositor should, in his own interest, carefully verify the correctness of ihe parti- culars filled in the intimation form with the relevant counterfoil si of the Annuity- Deposit Cortificate(s), and ensure that such counterfoil(s') is/are seni along with the intimjtion form.

FORM F

ANNUITY DEPOSITS

Receipt for Payment on-Annuity Deposit Certificates

(Sec paragraph 7(1) of the Annuity Deposit Schcmej 1966)

Recci vtd from

at

(Nam; of Bank)

paymevt du; o-i Annuity Deposit Certificates as follows ;

' No. of years

Amount of Annuity

Total amount

Amount o[ each certi- ficate

due

Date upto which pay- ment is due

Number of Annuity Deposit Certificate

for which

annuity pay-

ments are

due

Name and address of holder of Annuity "j Deposit a Certificate

}

Rs.

Rs. P.

is. P.

TOTAI

Total amount rece ved (in words)

Date :

Signature of depositor.

, ,

. „, , . . . R.. . . .. L±v I I-

FORM G

ANNUITY DEPOSITS

Application for Payment of Commute J value of Annuity

[See paragraph 8(2") of the Annuity Deposit Scheme, 1966]

To

The Income-tax Officer,

.Sir,

I / W e ' ——

(name of the person entitled to receive the annuity!

do hereby stat? that I am/we are* entitled to receive the instalments of annuity in respect of the annuity deposit made by me——

us •— during the financial year 19—19-

Shri'Shrimati

'in relation to the assessment year commencing on the 1st April, 19 as shown below:—

Amount

No. of Certificate

Distinguishing

Annuity Deposit

D^te on which annuity deposit is made

Deposit effice at which certificate is enfaccd for payment

Rs.

2

1

3

4

Vor the reasons given below, genuine hardship will be caused to me/us *unless you authorise the payment of tbe commuted value of the instalments of annuity which remain to be paid.

STATEMENT OF REASONS®

2, It is3 therefore, requested that you may authorise the payment of tbe commuted v"Iue of ihe -instalments of annuity aforesaid.

Yours faithfully,

Signature**

:

Date

Name (in full) ^~

Place—

Address (in full) , ,

'Delete whichever is inapplicable,

@If the apace provided herein is insufficient, separate enclosure may be used for the purpose.

**The application should be signed by the person entitled to receive the annuity.

NOTE:—Thi3 application should be submitted IN QUADRUPLICATE .

• S E C. 8 ( 1 )]

T HE

GA

,

, 0V

.,

ORDER UNDER PARAGRAPH 8(3) OF THE ANNUITY DEFOSIT SCHEME, 1966

This is to authorise the payment to the above mentioned applicaiu(s) of the amotnt of he cc m- ; muted value of the ma raiments ol annuity in respect of the annuity deposit aforesaid mace by liim/her/ihem/Shri/Shrimati—~— — •• •-— during the financial \ear 19 i'j fn relation to the assessment year commencing on the 1st April, 19 which remain to be paid. The Manager/Agent, —!

(name of the deposit office)

13 hereby requested fo pay to the applicant("s)above-mentioncd the amount of such commuted value -in accordance with the Table in Appendix II to the Annuity Deposit Scheme, 1966.

Date

Signature —

Seal—• Designation: Income-tax Officer,

Ward /District/Circle.

1st copy to the applicant(s). 2nd copy to the Managcr/Agentj

(.name of the deposit office)

%3rd copy to the Manager, Reserve Bank of India, Public Debt Office,

%Not necessary where an office of the Reserve Bank is the deposit office.

F O R MH

A N N U I TY D E P O S I TS

Application for Refund

[See paragraph 9(2) of the Annuity Eeposit Scheme, 1966]

To

T he Income-tax Officer,

Sit,

'

T/Wc* —

,

(name of person claiming refund of deposit)

*do hereby state that a sum of Rs. 1 ~———^ : was deposited 'by me < —

. by way of annuity deposit(s) us Shri/Shrimati—

. . ..

Juring the financial year 19— 19—, in relation to the assessment year commenc- ing on 1st April, 19— -as shown below:.

Amount

Date on which annuitv deposit is made

- Deposit effice at which the certificate is tnfaced for

Wo. of An t Certi-

Distinguishing 1

nuity Dcposi

ficate

payment

Rs,

1

2

3

Under paragraph 9(1; of the Annuity Deposit Scheme, 1966, I am*/We are/Shri Storimati •—— -— —is entitled to a refund of the aforesaid amount loccausc

*thc provisions of chapter XXII-A do not apply to me/us/Shri/Shrimati —

's total income for the assessment year my/our/Shri/Shrimati——. . ig !(} as finallj- determined does not exceed fifteen thousand rupees

I am/We are/Sbri/Shrimati •

' is/otherwise} not required to make the annunity deposit in relation to the assessment year 19 -is- .

1. I/We*, therefore, request for a refund of the aforesaid amount.

Yours faithfully,

Date — Signature **——

_

Place — Name (in full)— _

Address (in fall) •

•Delete whichever is inapplicable.

**The application should be signed by a person who is entitled to sign on application forisn e of Annuity Deposit Certificate undci paragraph 5(4) ol the Annuity Deposit Scheme, 1566. NOTL¹.—This application should be submitted IN QUADRUPLICATE.

ORDHR UNDER PARAGRAPH 9(3) OF THE ANNUITY DEPOSIT SCHHME, 1966

This is to authorise the refund to the abovemtnticntd applicants) of the amoum deposited liy him/her/t-hem/Shri/Shrimati — ——by way of annuity deposit in relation to the assessment year 19— -19 . The Manager/Agent —. is hereby

(Name of the deposit office) requested to refund to the applicant(s) above-mentioned the amount cf refcnd c'ue to him.tcr/ them/Shri/Shrimati ' inaccordance with paragraph 9(3) and 9(4) of the Annuity Deposit Scheme, 1966.

Date

Signature— — — —

Seal Designation: Income-tax Officer,

— -—Ward /District/ Circle.

1st copy to the applicant(s) and copy to the Manager/Agent,

(Name of the deposit office)

% 3rd copy to the Manager, Rcsejve Btnk of India, Public Debt Office,

.—.

% Not necessary where an office of the Reserve Hank is the deposit office.

FORM J

ANNUITY DEPOSITS

Form of Nomination

[See paragraph 13(1) and 13(4) of the Annuity Deposit Scheme, 1966]

(Name and address) nominate the following individual^) who filmll, en my death, have the right to receive payment of the amount for the lime being due OP the Annuity Deposit Certificate^,) specified below:—

Nominee

Annuity Deposit Certificate

Relationship

Address

Name

Amount

Date of birth

Distinguish- ing No,

SI. No.

Date of deposit

to the depositor

Rs.

2

3

4

5

2. *As .—. _ - — .—. — .———, the sole nominee above/Nominee No.—————, is a minor on this date, T appoint Shri/Sm,t,/Kum.ari——

(Name and address1)

to receive the amount for [he tijne being due on the above certificated in the event of my death during the minority oi" the said nominee! •—•—• • ——.

3. tfThis nomination is in substitution for ihe nomination dated——.———made by me and registered in the books of the Reserve' Bank of India, Public Debt Office,—- —— on _—. .——which -will stand cancelled on registration of this nomination.

fdate)

Place- —— — . _— .— Sifitatirrv of depositor—•—•—-—

Date _„ . ^ ^ _ ^ ^ ^_

Signatures and .iddresses of witnesses :

I. „-_—__~ • .. . .— .

__ __

., _

2. j

N'ntcs : [I) *NVt to be filled in unless nominee is a minor.

{2) tNwTH-- of the nominee.

'?.' t+Th'ii paragraph may be siriitk pv.it wheji the nwnination is not in siibiiitutittji ©1 one already inade.

1-ORJ* K

ANNUITY OHIJOS1T5

Notification of Cancellation of Nomination

[Set parajtarph 13 14'! of the Ajimuty Deposit Scheme, 1966]

I, .—. — —— . . .— — _ _ „. ___^ . , ('Name and address)

dc hereby cancel the nominuiion daied-—-—-—— — — m a de by me in respect of the follrnving Annuity Deposit Certificate 1. s.) and registered in the bonks ni rhe Reserve Bank of Iudja, Public Debt Ofllcr.— — *— ——— ^ jn the • • .. ..

(date)

PARTICULARS OF THH CERTII' ICATRiS)

Distinguisllinii; Date of Deposit Amount Number

IJ a ti ~—•—~—•—~—•

Signature of depostici

Place— — —_

Sianarnre of and addreesse^ of viitnei'e*.

^ ^ _ _™

.

\ w

2. —• . — .—

.

__

1⁷OBM L

ANNUITY BEPOSITS

Declaration of Intention to make Annuity Deposit

[Sec paragraph 14 of the Annuilv Deposit Scheme, /'ifih].

To

• Designalion <-X person paving salarvi

Sir,

I hereby declare ihat I propose to make an unuuity deposit in an imniim nf Rs

under the provisions of Chapter XX1IA of the Au during die financial year 19 . - 1^ in relation to the assessment year T9 19

It ia, therefore, requested t'lal you may deduct income-tax under st-cljoii Tt)2 as jJ Uie v>limated income referred to in sub-section (1 * of that section had been reduced by the nm be ilep^siwJ bv me.

Yours fnithfuHy,

Date——_-_„„_ SiRnaiurc— •—~ • —

Place—• — > Nnrnc , in l u l l )— •—-——-——

Address fin lull'i— ————

NOTE : Thr; declaration may he made by a pers"n whose- estiniakd in-ci'me ehng-.ibJc under ' he Head. "Salaries" I'nr any rinajicial i i ^r e\CLeds Rh. 75,000 but does ncl e^cu'd Kn. 2S,000,

APPENDIX II

ANNUITY DEPOSITS

TABLE OF COMMUTED VALUE OF ANNUTIES

[Sec piiragriii'ih'i S'4'iand 1 i' J) uKrlie Annuity Deposit Scheme, ltjbfi].

Commuted value "1 annuilics

When (Jommuration is made

Where ihe amount of Annuity Deposit is

Where I be amount of Annuity Deposit is Rs.1,000

Where rhe amoiifll of Annuity Deposit is Rs. TOO

Rs. 10

2

1

3

4

R<;.

":,.

R s.

After the expiry of 1 year hul beture 2 years Ir^m the date

Hi <|0 N75.00

s 75

of deposit

After the expiry of 2 years but before 3 years from tile dale

7S5.05

7b 50

7.S5

of deposit , . -

After the expiry of 3 years but before 4 years Irnm ihe dureot

67.19 67T 91 deposit , , . . .

f),72

After the expiry of 4 years but before 5 years Irnm the date

557-5O of deposit . .. . . ..

*5 75

I

2

3

4

Rs.

After the expiry of 5 years but before 6 years from the date of deposit . . . . . . . ..

443-99

Rs. 4 44

Rs. 44-4°

After the expiry of 6 vears but before 7 years from the date of deposit . . . . . . . ..

33 3S 333-^r

3-34

After the expiry of 7 years but before 8 years from the date of

deposit

23.00

229.96

2 . 30

After the expiry of 8 3'ears but before 9 years from the date of

deposit .

. . . . ..

13-63

1.36

136.25

After the expiry of 9 years b ut before 10 years from the date of

0.57

deposit

. . . . . . ..

57-46

5-75

MOTE : The amount ot the commuted value will be calculated in the following manner •'—

(a) For every Unit of Rs. i3ooo if any, comprised in the amount of the annuity deposit, the amount of the commuted value will be calculated at the rates specified in column 4>

(b) For every unit of Rs. 100, if any, comprised in the amount of the annuity deposit, remaining after the calculation at (a), the amount of the commuted value will be cal- culated at the rates specified in col. 3; and

(\t) For every unit of Rs. 10, if any, comprised in the amount of the annuity deposit re- maining after the calculations at (a) and (b), the amount of the commuted value will be calculated at the rates specified in column 2.

The aggregate of the amounts calculated as at (a), (b) and (c) will be the amount of the commuted vaiue.

[No. 122/F. No. 10/34/66-TPL.]

JAMUNAA PRASAD SINGH,A"ldl. Secy.

PRINTED IN INDIA BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PRESS,

NEW DELHI AND PUBLISHED BY THE MANAGER OP PUBLICATIONS, DELHI, 1 9 6 7.