Finance (Increase of Income Tax) Act, 1931

• Permanent Page URL

Automatic variation of tax charged in assessments.

3.—(1) The amount payable by virtue of any assessment to income tax for the year beginning on the 6th day of April, 1931 which was made before the passing of this Act shall, by virtue of this Act and without more, be deemed to be varied to such extent as is necessary to give effect to the change made by this Act in the rate of such tax.

(2) Where notice of an assessment has been issued before the passing of this Act and the amount payable by virtue of such assessment is deemed by this section to be varied, it shall not be necessary to issue any further notice of such assessment or to give any notice of the said variation of the amount payable by virtue of such assessment.

(3) This section shall not apply in the case of income chargeable under Schedule C of the Income Tax Act, 1918, or under Rule 6 or Rule 7 of the Miscellaneous Rules applicable to Schedule D of that Act.