Finance Act, 1963

Cesser, etc.

96.—(1) Section 6 of the Finance Act, 1932 , and the Rule added to the Rules applicable to Case III of Schedule D by that section shall not have effect for the year 1963-64 or any subsequent year of assessment.

(2) Notwithstanding anything in this Part of this Act, section 37 of the Income Tax Act, 1918, shall be construed and have effect as if any tax chargeable under Schedule D by virtue of the provisions of this Part of this Act were chargeable under Schedule A.

(3) Where for any year of assessment a deduction may be made under subsection (4) of section 84 of this Act in respect of the cost of maintenance, repairs, insurance or management of any premises, no relief from income tax under Schedule A in respect of the premises shall be allowed under Rule 8 of No. V of that Schedule.