Finance Act, 1975
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Amendment of section 83 of Income Tax Act, 1967. |
20.— Section 83 of the Income Tax Act, 1967 , is hereby amended— | |
(a) by the substitution for subsection (6) of the following subsection: | ||
“(6) If an amount by reference to which a person is chargeable to tax by virtue of this section is payable by instalments, the tax chargeable may, if the person chargeable satisfies the Revenue Commissioners that he would otherwise suffer undue hardship, be paid at his option by such instalments as the Commissioners may allow over a period not exceeding eight years and ending not later than the time at which the last of the first-mentioned instalments is payable.”, | ||
(b) by the substitution for subsection (8) of the following subsection: | ||
“(8) Where subparagraph (iii) of section 80 (2) (a) applies, the premium, or an appropriate part of the premium, payable for or in connection with any lease mentioned in that subparagraph may be treated as having been required under any other lease.”, and | ||
(c) by the insertion after subsection (8) of the following subsection: | ||
“(9) Reference in this section to a sum shall be construed as including the value of any consideration, and references to a sum paid or payable or to the payment of a sum shall be construed accordingly.”. |