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SectionThird Schedule
The Finance Act, 1966

Third Schedule

In force Act 13 of 1966 As on 16 Oct 2026

Act 13 of 1966 Ministry Finance Enacted 13 May 1966

Section Third Schedule of the Finance Act, 1966 deals with third Schedule. THE THIRD SCHEDULE (See section 32) FURTHER AMENDMENTS IN THE INCOME-TAX ACT Section 156.—Omit "(including annuity deposit referred to in Chapter XXIIA)" with, affect from the 1st day of April, 1967. The Act was enacted on 13 May 1966.

THE THIRD SCHEDULE

(See section 32)

FURTHER AMENDMENTS IN THE INCOME-TAX ACT

Section 156.—Omit "(including annuity deposit referred to in Chapter XXIIA)" with, affect from the 1st day of April, 1967.

Section 246.—In clause (o),—

(a) in sub-clause (v), omit "or";

(b) omit sub-clause (vi):

with effect from the 1st day of April, 1967.

Section 280E.—Re-number the existing Explanation as Explanation 1, and after Explanation 1 as so re-numbered, insert—

"Explanation 2.—The provisions of this section and of sections 280F to 2801 shall not apply in respect of the financial year commencing on the 1st day of April, 1966 or any subsequent financial year.".

Omit sections 280J, 280K, 280R and 280T with effect from the 1st day of April, 1967.

Section 280M.—For sub-section (2), substitute with effect from the 1st day of April, 1967—

"(2) Where any depositor has deposited any amount for any assessment year which he is not liable to deposit under the provisions of this Chapter or which is in excess of the amount required to be deposited under the said provisions for that year, then, the entire amount or excess amount, as the case may be, may be refunded, adjusted or otherwise dealt with In such manner and having regard to such factors as may be specified in a scheme framed under section 280W.".

For section 280Q, substitute—

Rounding off

"280Q. The amount of any deposit to be made under this Chapter shall be rounded off to the nearest multiple of ten rupees and for this purpose any part of a rupee consisting of paise shall be ignored and thereafter if such amount is not a multiple of ten, then, if the last figure in that amount is five or more, the amount shall be increased to the next higher amount which is a multiple of ten and if the last figure is less than five, the amount shall be reduced to the next lower amount which is a multiple of ten.".

Section 280W.—After clause (a) of sub-section (2), insert—

"(aa) the cases in which, the circumstances under which and the conditions subject to which, the Income-tax Officer may, under the proviso to clause (ii) of sub-section (2) of section 280C, allow a depositor to make a deposit or a further , deposit after the expiry of the financial year immediately preceding the assessment year;".

[Finance Act, 1966]

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Third Schedule, The Finance Act, 1966 (Act 13 of 1966).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 32 Consequential or miner amendments relating to annuity deposits in the income-tax Act

Questions about Section Third Schedule

What does Section Third Schedule of the Finance Act deal with?

Section Third Schedule of the Finance Act is headed "Third Schedule". THE THIRD SCHEDULE (See section 32) FURTHER AMENDMENTS IN THE INCOME-TAX ACT Section 156.—Omit "(including annuity deposit referred to in Chapter XXIIA)" with, affect from the 1st day of April, 1967.

How do I find court cases under Section Third Schedule of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1966 Third Schedule, section Third Schedule Finance Act 1966, section Third Schedule of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section Third Schedule of the Finance Act, and has it changed?

Its own text turns on section 32 (Consequential or miner amendments relating to annuity deposits in the income-tax Act), so none of them can safely be read on its own.

When was Section Third Schedule of the Finance Act enacted?

Section Third Schedule of the Finance Act, cited as Finance Act 1966 Third Schedule, was enacted on 13 May 1966 as Act 13 of 1966. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.