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Time for payment of tax.
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477.—(1) Subject to the provisions of this section, income tax contained in an assessment for any year shall be payable on or before the 1st day of January in that year, except that tax included in an assessment for any year which is made on or after the 1st day of January shall be deemed to be due and payable on the day next after the day on which the assessment is made.
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(2) The following tax charged for any year, that is to say—
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(a) tax charged under Schedule A in respect of income which is earned income; and
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(b) tax charged under Schedule B on any individual or firm in respect of lands occupied for husbandry only; and
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(c) tax charged under Schedule D on any individual or firm in respect of the profits or gains of any trade or profession; and
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(d) subject to the provisions of section 126, tax charged on any individual in respect of any office or employment except individuals whose tax is deducted at definite intervals of less than half a year,
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shall, instead of being payable on or before the 1st day of January in that year or on such other date as is specified in subsection (1), be payable in two equal instalments, the first on or before the 1st day of January in that year, or on such other day as aforesaid and the second on or before the following 1st day of July, and the provisions of this Act as to the recovery of tax shall apply to each instalment of the tax, in the same manner as they apply to the whole amount of the tax:
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Provided that where the assessment is not made until after the said following 1st day of July, this subsection shall not have effect and the tax shall be due and payable as provided in subsection (1).
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(3) Railway companies shall pay tax under Schedule D by four quarterly payments, that is to say, on or before the 20th days of June, September, December and March respectively, in each year.
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