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Basis of computation and method of collection of income tax on certain emoluments.
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5.—(1) Income tax for the year 1960-61 or any subsequent year of assessment in respect of emoluments to which this Part of this Act applies shall be computed on the amount of those emoluments for the year and not otherwise.
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(2) On the making of any payment of any emoluments to which this Part of this Act applies made during the year 1960-61 or any subsequent year of assessment, income tax shall, subject to this Part of this Act and subject to and in accordance with the regulations thereunder, be deducted or repaid by the person making the payment notwithstanding that—
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(a) when the payment is made, the tax has not been imposed for the year or no assessment has been made in respect of the emoluments, or
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(b) the emoluments are, in whole or in part, emoluments for some year of assessment (including a year before the year 1960-61) other than that during which the payment is made.
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