Finance Act, 1925
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Rate of tax at which certain repayments are to be made. |
11.—Any repayment of income tax for any year of assessment, whether ending before or after the passing of this Act, to which any person may be entitled in respect of any deduction allowed under sections 18 to 22 of the Finance Act, 1920 , or in respect of the reduction of the rate of tax on the first two hundred and twenty-five pounds of taxable income under section 23 of that Act, shall be made at the standard rate of tax for that year, or at half that rate, as the case may be, but subject to such adjustments as may be proper in cases where relief is given under or by virtue of the Double Taxation (Relief) Act, 1923 (No. 8 of 1923): Provided that, in the case of any person who proves as regards any year that, by reason of the deductions to which he is entitled, he has no taxable income for that year, any repayment to be made shall be a repayment of the whole amount of the tax paid by him, whether by deduction or otherwise, in respect of his income for that year. |