Indian Income-Tax Act, 1922

Section - 55 - Charge of super-tax

CHAPTER IX

SUPER-TAX

55. Charge of super-tax.—In addition to the income-tax charged for any year, there shall be charged, levied and paid for that year in respect of the total income of the previous year of any [individual, Hindu undivided family, [company, local authority, unregistered firm or other association of persons], not being a registered firm], [or the partners of the firm or members of the association individually,] an additional duty of income-tax (in this Act referred to as super-tax) at the rate or rates laid down for that year by [a Central Act]:

[Provided that where under the provisions of clause (b) of sub-section (5) of section 23 an unregistered firm has been assessed in the manner applicable to a I registered firm, super-tax shall be payable by each partner of the firm individually on his share in the income, profits and gains of the firm and not by the firm itself:]

Provided [further] that, where the profits and gains of an unregistered firm [or other association of persons not being a company] have been assessed to super-tax, super-tax shall not be payable by [a partner of the firm or a member of the association, as the case may be], in respect of the amount of such profits and gains which is proportionate to his share.

 

Substituted for "individual, unregistered firm, Hindu undivided family or company" by s. 7 read with s. 11, Indian I.T. (Amendment) Act, 1924, w.e.f. 1-4-1923.

Substituted for "company, unregistered firm or other association of individuals" by s. 67, Indian I.T. (Amendment) Act, 1939.

Inserted, s. 67, Indian I.T. (Amendment) Act, 1939.

Substituted for "Act of the Central Legislature" by Adaptation of Laws Order, 1950.

Inserted by s. 67, Indian I.T. (Amendment) Act, 1939.

Substituted for "an individual having a share .... To read the full section download the app from Google Play store
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