Inland Revenue.
(2) Where a person commences to receive income chargeable to salaries and annuities tax on a day within a year of assessment, his assessable income for that year of assessment shall be his income arising in the period from such day to the end of the year of assessment.
(3) Where a person has commenced to receive income chargeable to salaries and annuities tax on a day within the year preceding the year of assessment, his assessable income for that year of assessment shall be his income arising in one year from such day.
(4) Where a person ceases to receive income chargeable to salaries and annuities tax his assessable income for the year of assessment in which the cessation occurs shall be his income arising in the period beginning on the 1st day of April in that year and ending on the date of cessation. [12]
[CAP. 112
12. Before arriving at the net chargeable income of Allowances.
a person assessable to tax under this Part, there shall be
deducted from his assessable income the following-
(a) the allowances provided under section 42; and (b) any outgoings and expenses wholly, exclusively, and necessarily incurred in the production of that income. [13]
13. Salaries and annuities tax shall be charged for each year of assessment upon the net chargeable income for that year calculated as provided by sections 9 to 12 at the rates specified in the Second Schedule: Provided that—
Rates of Salaries and annuities tax.,
Second Schedule. 30 of 1950, Schedule.
Schedule.
(a) where a person is liable to tax under this Part for
a part only of any year of assessment prior to the 37 of 1950, year of assessment 1950/51, the provisions of the Second Schedule shall be modified in manner specified therein; and
(b) in no case shall the amount of salaries and annuities tax chargeable on any person exceed the amount which would have been chargeable on him had the standard rate of tax been charged on the whole of his income chargeable to salaries and annuities tax before deducting the allowances provided in section 12. [14]
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