§
Resolved,
That Income Tax chargeable under Case III of Schedule D shall be computed, in the case of the year of assessment in which the profits or income first arise, on the full
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amount of the profits or income arising within that year, and in the case of subsequent years of assessment, on the full amount of the profits or income arising within the year preceding the year of assessment, or if the profits or income first arose on a day in the year preceding the year of assessment other than the sixth day of April, on the profits or income arising within the year of assessment.
And it is declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1913.