Finance Act, 1974
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Provision in relation to tax deducted from certain payments of interest made before passing of this Act. |
30.—(1) This section applies to payments of interest (other than interest on a loan secured by an instalment promissory note of the kind referred to in section 50 (2) or interest to which section 31 (2) applies) in respect of any period beginning on or after the 10th day of January, 1974, made before the passing of this Act from which tax was deducted under section 433 or 434 of the Income Tax Act, 1967 . | |
(2) Payments of interest to which this section applies shall be deemed to be payments not made out of profits or gains brought into charge, whether or not they are such payments, and subsections (2) to (5) of section 434 of the Income Tax Act, 1967 , shall apply to the said payments as they apply to payments specified in subsection (1) of that section. |