Section 4(1) in The Compulsory Deposit Scheme (Income Tax Payers) Act, 1974
(1)Where, in relation to an assessment year referred to in subsection (1) of section 3, the current income of any person, being an individual or a Hindu undivided family or a trustee specified in clause (a) of sub- section (2) of that section, exceeds fifteen thousand rupees, such person, or if any other person is assessable under the Income- tax Act in respect of the total income of such person, the person so assessable, shall make, in accordance with and subject to the provisions of this Act and any scheme framed thereunder, a compulsory deposit,-(i)for the assessment year commencing on the 1st day of April 1975 and the assessment year commencing on the 1st day of April, 1976 , at the rates specified in Paragraph A of the Schedule.(ii)for the assessment year commencing on the 1st day of April, 1977 and the assessment year commencing on the 1st day of April 1978 , at the rates specified in Paragraph B of the Schedule;(iii)for the assessment year commencing on the 1st day of April, 1979 , the assessment year commencing on the 1st day of April, 1980 , and the assessment year commencing on the 1st day of April, 1981 , at the rates specified in Paragraph C of the Schedule; and(iv)for the assessment year commencing on the 1st day of April, 1982 , at the rates specified in Paragraph D of the Schedule."]
