Inland Revenue Act 2006 · As enacted · Chapter II · Income Chargeable with Tax
3. Income chargeable with Tax
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Official translationFrom Department of Government Printing, unchanged
For the purpose of this Act, “profits and income” or
“profits” or “income” means-
the profits from any trade, business, profession or vocation for however short a period carried on or exercised;
the profits from any employment;
the net annual value of any land and improvements thereon occupied by or on behalf of the owner, in so far as it is not so occupied for the purposes of a trade, business, profession or vocation;
the net annual value of any land and improvements thereon used rent-free by the occupier, if such net annual value is not taken into account in ascertaining profits and income under paragraphs (a), (b) or (c) of this section, or where the rent paid for such land and improvements is less than the net annual value, the excess of such net annual value over the rent to be deemed in each case the income of the occupier;
dividends, interest or discounts;
charges or annuities;
rents, royalties or premiums;
winnings from a lottery, betting or gambling ;
in the case of a non governmental organisation, any sum received by such organisation by way of grant, donation or contribution or any other manner ; and
income from any other source whatsoever, not including profits of a casual and non-recurring nature.
Chapter III
Exemption from Income Tex
Chapter IV
Ascertainment of Profits or Income
Chapter V
Ascertainment of Total Statutory Income
Chapter VI
Ascertainment of Assesable Income
Chapter VII
Ascertainment of Taxable Income
Chapter VIII
Chapter IX
Special Provisions Relating to the Taxation of Certain Profits and of Dividends Out of Such Profits
Chapter X
Companies
Chapter XI
Special Cases a – Children
Chapter XII
Chapter XIII
Payment of Tax by Self-Assessment
Chapter XIV
Deduction of Income Tax from Remuneration of Employees by Employers
Chapter XV
Provisions Relating to the Payment of Income Tax by a Government Institution
Chapter XVI
Deductions from Interest Paid by Banks and Financial Institutions
Chapter XVII
Deduction of Income Tax from Specified Fees Paid by Specified Persons
Chapter XVIII
Chapter XIX
Chapter XX
Deduction of Income Tax from Any Annuity or Royalty Paid or Any Management Fee Paid or Similar Payment Made by Any Person or Partnership
Chapter XXI
Retention of Moneys in Certain Provident Funds
Chapter XXII
Assessments
Chapter XXIII
Appeals A-Appeals to the Commissioner-General
Chapter XXIV
Finality of Assessments and Penalty for Incorrect Returns
Chapter XXV
Tax in Default and Sums Added Thereto
Chapter XXVI
Recovery of Tax
Chapter XXVII
Miscellaneous
Chapter XXVIII
Repayment
Chapter XXIX
Penalties and Offences
Chapter XXX
Administration
Chapter XXXI
General
Chapter XXXII
Interpretation
Chapter XXXIII