Finance Act, 1929
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Income chargeable under Case III. of Schedule D. |
10.—(1) Save as is hereinafter otherwise provided, income or profits chargeable under Case III. of Schedule D, as added to by section 11 of this Act, shall, for all the purposes of ascertaining liability to income tax, be deemed to issue from a single source, and the provisions of section 17 of the Finance Act, 1922 , shall apply accordingly. | |
(2) The foregoing sub-section shall not apply to the following income or profits and such income or profits shall be deemed to arise from separate sources respectively, that is to say:— | ||
(i) income or profits chargeable under Rule 3 of Case III. of Schedule D, and | ||
(ii) profits chargeable under Rule 4 of Case III. of Schedule D, and | ||
(iii) income from securities and possessions in any place out of Saorstát Eireann tax on which under Rule 2 of the rules contained in Part II. of the First Schedule to this Act is required to be computed by reference to the amount of the income received in Saorstát Eireann. | ||
(3) If in any year of assessment any person charged or chargeable in respect of income or profits under Case III. of Schedule D, as added to by section 11 of this Act ceases to possess the whole of such single source of income or profits as is mentioned in sub-section (1) of this section, or any of the sources the income of which is directed to be separately computed under sub-section (2) of this section, section 12 of this Act (which relates to the discontinuance of a trade, profession, or vocation) shall, subject to the necessary modifications, apply in any such case as if the cesser of the possession of such single source or separate sources, as the case may be, were the discontinuance of a trade. |