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31 1931

FINANCE ACT, 1931

PART I.

Income tax.

Income tax and sur-tax for the year 1931-32.

1. —(1) Income tax shall be charged for the year beginning on the 6th day of April, 1931, at the rate of three shillings in the pound.

(2) Sur-tax shall be charged for the year beginning on the 6th day of April, 1931, at the same rates as those at which it was charged for the year beginning on the 6th day of April, 1930.

(3) The several statutory and other provisions which were in force during the year beginning on the 6th day of April, 1930, in relation to income tax and sur-tax shall, subject to the provisions of Part II . of the Finance Act, 1929 (No. 32 of 1929), and of this Act, have effect in relation to the income tax and sur-tax to be charged as aforesaid for the year beginning on the 6th day of April, 1931.

Amendment of section 8 of the Finance Act, 1925 .

2. —Sub-section (1) of section 8 of the Finance Act, 1925 (No. 28 of 1925), shall be construed and have effect and be deemed always to have had effect as if after the figures “1918” now contained therein there were inserted the words and figures “or under Rule 18 of the General Rules applicable to Schedules A, B, C, D, and E of the said Act.”

Exemption of certain moneys payable to hospitals.

3. —(1) Exemption shall be granted from tax under Schedule D of the Income Tax Act, 1918, in respect of any moneys payable to the governing body of any hospital under the Public Charitable Hospitals (Temporary Provisions) Act, 1930 (No. 12 of 1930).

(2) This section shall be deemed to have come into force on and had effect as on and from the 6th day of April, 1930.

Proceedings in respect of certain penalties.

4. —Notwithstanding that the amount of a penalty recoverable under the Income Tax Acts cannot be definitely ascertained by reason of the fact that the amount of tax by reference to which such penalty is to be calculated has not been finally ascertained, proceedings may be instituted for the recovery of such penalty and, if at the hearing of such proceedings the amount of such tax has not then been finally ascertained, the Court may, if it is of opinion that such penalty is recoverable, adjourn such proceedings and shall not give any judgment or make any order for the payment of such penalty until the amount of such tax has been finally ascertained.