§ (1) Where in any Income Tax year any half-yearly or quarterly payments have been made on account of any dividend, interest, or other annual profits or gains, previously to the passing of the Act imposing the tax for that year, and Income Tax has not been charged thereon or deducted therefrom, or has not been charged thereon or deducted therefrom at the rate ultimately charged for the said year, the amount not so charged or deducted shall be charged under Schedule D in respect of those payments as profits or gains not charged by virtue of any other schedule, in accordance with the provisions contained in the sixth case of Schedule D in Section one hundred of the Income Tax Act, 1842, and the agents entrusted with the payment of the dividends, interest, or other annual profits or gains shall furnish a list containing the names and addresses of the persons to whom payments have been made, and the amount of those payments, to the Commissioners of Inland Revenue, upon a requisition made by the Commissioners in that behalf.
§ (2) Any person liable to pay any rent, interest, or annuity, or to make any other annual payment shall be authorised to make any deduction on account of Income Tax for any Income Tax year which he has failed to make previously to the passing of the Act imposing the tax for that year, or to make up any deficiency in any such deduction which has been so made on the occasion of the next payment, of the rent, interest, or annuity, or making of the other 1613 annual payment after the passing of the Act so imposing the tax, in addition to any other deduction which he may be by law authorised to make, and shall also be entitled, if there is no future payment from which the deduction may be made, to recover the sum which might have been deducted as if it were a debt due from the person as against whom the deduction could originally have been made if the Act imposing Income Tax for the year had been in force.
§ (3) Any charge or deduction of Income Tax made during any Income Tax year previously to the passing of the Act imposing the tax shall be deemed to be a legal charge or deduction so far as it does not exceed the charge or deduction which might have been made if the Act imposing the tax had been in force.
§ (4) In this Section the expression "Income Tax year "means the year beginning the sixth day of April.
1614§ Amendment made: Leave out Subsection (3).