§ Sir JOHN JARDINEasked, as regards the computation of income for the purpose of the Super-tax on dividend paid by a limited company free of Income Tax, whether the computation was only on the sum so paid over or on that sum plus the amount already paid by the company to the Inland Revenue as Income Tax; and whether any instructions had been issued for dealing with such cases?
§ Mr. HOBHOUSEFor purposes of the Income Tax (including Super-tax), income, whether taxable directly or at the source, is calculable in its full amount before payment of the tax, and dividends stated to be paid "free of Income Tax" form no exception.