Finance (Increase of Income Tax) Act, 1931
|
Modification of section 211 of the Income Tax Act, 1918. |
5.—(1) Section 211 (which relates to charge and deduction of tax in any year not charged or deducted before the passing of the annual Act) of the Income Tax Act, 1918, shall, in relation to the income tax for the year beginning on the 6th day of April, 1931, have effect subject to the following modifications, that is to say:— | |
(a) the expression “the passing of the Act imposing the tax for that year” shall be construed as meaning the eleventh day after the passing of this Act; | ||
(b) the words “half-yearly or quarterly” contained in sub-section (1) of the said section shall be omitted; | ||
(c) the words “or the person by or through whom the payments were made, as the case may be,” shall be inserted in the said sub-section (1) after the words “the agents entrusted with the payment of the interest, dividends, or other annual profits or gains”; | ||
(d) sub-section (2) of the said section shall apply with respect to— | ||
(i) any royalty or other sum paid in respect of the user of a patent from which a deduction of tax may be made under paragraph 2 of Rule 19 of the General Rules applicable to all the Schedules of the Income Tax Act, 1918, and | ||
(ii) any dividend from which a deduction of tax may be made under Rule 20 of the said General Rules, | ||
as it applies with respect to any rent, interest, annuity, or other annual payment; | ||
(e) the reference to the Act imposing tax for the year shall where it last occurs in sub-section (2) of the said section, be construed as a reference to this Act. | ||
(2) The modifications effected by this section in section 211 of the Income Tax Act, 1918, shall, in so far as they apply to a case to which section 4 of this Act applies, have effect subject to the provisions of the said section 4. |