Income Tax Super Tax And Inhabited House Duty With An Analysis of the Schedule
Income Tax Super Tax And Inhabited House Duty With An Analysis of the Schedule
W E Walter Edward Snelling
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" (Section 40 is printed on page 47. ) History of Limits. — Exemption limit reduced to £100. {Income Tax Act, 1853, s. 28. ) Exemption allowed to incomes so reduced by Section 134, Income Tax Act, 1842. (Income Tax Act, 1853, s. 30. ) Exemption limit raised to £150. (Customs and Inland Revenue Acty 1876, s. 8. ) Exemption allowed to incomes not exceeding £160 (the present limit). (Finance Act, 1894, s. 34. ) Repa3mient. — General Commissioners may grant a certificate authorising repayment of du...ty paid by way of deduction. (Income Tax Act, 1842, s. 165. ) Partners and Joint Tenants may severally claim, but profits of lands are not to be charged separately under Schedule B, where lands are let or underlet without the lessor relinquishing possession or where the lessee or tenant is not exclusively in the possession and occupation of the lands, (s. 168. ) ABATEMENT. Limits. — Any individual who, having been assessed or charged to income tax or having paid income tax either by deduction or otherwise, claims and proves in the manner prescribed by the Income Tax Acts 1 that his total income from all sources although exceeding £160 does not exceed £700 shall be entitled to rehef, equal — if his total income does not exceed £400 to tax upon £160 ; if his total income exceeds £400 and does not exceed £500 to tax upon £150 ; if his total income exceeds £500 and does not exceed £600 to tax upon £120 ; if his total income exceeds £600 and does not exceed £700 to tax upon £70 ; Relief shall be given either by reduction of the assessment or by repayment of the excess.
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