Section 4(3) in Compulsory Deposit Scheme Act, 1963
(3)A person falling under clause (b) of section 2 by whom any additional surcharge is payable in respect of any assessment year may make a deposit under this Act in respect of that year and if he does so, then, he shall, on production of proof before the income-tax officer concerned of the fact of such deposit having been made, be entitled to deduction from the additional surcharge of a sum which shall be equal to-(a)the sum so deposited, or(b)(i)where his residual income is six thousand rupees or less, three per cent of such residual income, or(ii)where his residual income exceeds six thousand rupees, three per cent of the first six thousand rupees of such residual income and two per cent of the balance thereof, whichever is less.Explanation.- In this sub-section "residual income" has the same meaning as in section 2 of the Finance Act, 1963 (13 of 1963).
