Finance Act, 1977
Charge of income tax for 1977-78 and subsequent years. |
5.—(1) Where a person who is charged to income tax for the year 1977-78 or any subsequent year of assessment is an individual (other than an individual acting in a fiduciary or representative capacity), he shall, notwithstanding anything in the Income Tax Acts but subject to section 5 (3) of the Finance Act, 1974 , be charged to tax on his taxable income at the rates specified in the following Table and | |||||||||||||||||||||||||||||||
(a) each of the first three rates in that Table, and | ||||||||||||||||||||||||||||||||
(b) the other rates in that Table, | ||||||||||||||||||||||||||||||||
shall be known, respectively, by the description specified in column (3) of that Table opposite the mention of the rate or rates, as the case may be, in column (2) of that Table. | ||||||||||||||||||||||||||||||||
TABLE | ||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||
(2) Part II of the First Schedule shall have effect for the purpose of supplementing subsection (1). |