Section 4(5) in Compulsory Deposit Scheme Act, 1963
(5)Any person falling under clause(b) of section 2 who is liable to pay advance tax under the Income-tax under the Income-tax Act in any financial year may make a deposit under this Act in that year and if he does so, then, notwithstanding anything contained in the Income-tax Act, 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 included in the advance tax, of a sum which shall be equal to--(a)the sum so deposited, or(b)the sum calculated in accordance with clause (b) of sub-section (3) , Whichever is less.Explanation.- In this sub-section, "advance tax" shall have the same meaning as in section 207 of the Income-tax Act.
