Section 4(4) in Compulsory Deposit Scheme Act, 1963
(4)Any person falling under clause(b) of section 2 who is in receipt of any income under the head "salaries" during any financial year may make a deposit under this Act in that year and if he does so, then, notwithstanding anything in the Income-tax Act, the person responsible for paying that income shall, on production of proof of the fact of such deposit having been made, reduce the amount of additional surcharge included in the tax to be deducted in accordance with the provisions of section 192 of that Act by 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.
