Finance Act, 1975
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Amendment of section 21 of Finance Act, 1974. |
17.—(1) Section 21 (1) of the Finance Act, 1974 , shall have effect, as respects any assessment for the year 1974-75, as if “fifteen months” were substituted therein for “six months”. | |
(2) The said section 21 (1) of the Finance Act, 1974 , is hereby amended— | ||
(a) by the substitution of “1975-76” for “1974-75”, and | ||
(b) by the deletion of “, or of section 20”, | ||
and the said section21 (1), as so amended, is set out in the Table to this subsection. | ||
TABLE | ||
21.—(1) Where, for the year of assessment 1975-76, an individual, other than an individual to whom section 16 applies, is, by virtue of section 15, chargeable to tax in respect of profits or gains from farming he may, by notice in writing given to the inspector within six months after the commencement of the said year of assessment, elect to be charged to tax for that year of assessment in respect of those profits or gains in accordance with the provisions of this section and not by reference to the provisions of section 58 (1) of the Income Tax Act, 1967 . |