Correction of the Income Tax Act, Cap. 123

L.N. 238 of 2000

STATUE LAW REVISION ACT

(ACT NO. IX OF 1980)

Correction of the Income Tax Act, Cap. 123

IN exercise of the powers conferred by article 7(3) of the Statute

Law Revision Act, 1980, the Law Commission has made the following

correction:-

In the English text of the Income Tax Act, Cap. 123, in subarticle

(1) of article 4 there shall be inserted the following paragraphs:-

gains or profits from any trade, business, profession or

"(a)

vocation, for whatever period of time such trade, business,

profession or vocation may have been carried on or exercised,

including the profit arising from the sale by any person of any

property acquired by him for the purpose of profit-making by sale,

or from the carrying on or carrying out of any profit-making

undertaking or scheme;

(b) gains or profits from any employment or office,

including the estimated annual value of any quarters or board or

residence (after allowing, in cases in which quarters, board or

residence are not free, for any sum paid or payable by way of rent,

contribution or otherwise for such quarters, board or residence);

dividends, premiums, interest or discounts;

(c)

any pension, charge, annuity or annual payment;".

(d)