|
|
Deductions on Payment of Interest of Money and other Payments from Profits charged under Schedule (D.) to be made by virtue of a Certificate from the Commissioners.
|
CXCIV. And be it further enacted, That whenever it shall be proved to the Satisfaction of the said respective Commissioners, acting for the Purposes of this Act in the District where any Person making the Application shall reside, that any Interest of Money, Annuity, or other annual Payment, shall be annualy paid out of the Profits and Gains, bon[html] fide accounted for and charged by virtue of this Act, at the Rate and according to the Rules specified in Schedule (D.) without any Deduction on Account thereof, it shall be lawful for such Commissioners to grant a Certificate thereof, under their Hands or the Hands of any Two of them, in such Form as shall be directed under the Authority of this Act, which Certificate shall entitle the Person so assessed, upon Payment of such Interest, Annuity, Allowance, or Stipend, to abate and deduct so much thereof as a like Rate on such Interest, Annuity, Allowance, or Stipend, would amount unto; and all Persons to whom such Interest, Annuity, Allowance, or Stipend shall be paid, shall allow such Deductions and Payments upon Receipt of the Residue of such Interest, Annuity, Allowance, or Stipend; and the Person or Persons paying the same shall be acquitted and discharged of so much Money as a like Rate thereon would amount unto, as if the same had actually been paid unto the Person or Persons to whom such Interest, Annuity, Allowance, or Stipend, shall have been due and payable; provided no such Certificate shall be required where such Payments are to be made out of the Profits or Gains arising from Lands, Tenements, Hereditaments, or Heritages, as before mentioned, or of any Office or Employment of Profit, or out of any Annuity, Pension, Stipend, or any Dividend or Share in such publick Annuities as are herein mentioned, but such Deductions may be made without having obtained such Certificate.
|
