Singapore legislation
Clause 9
Clause 9
Repeal and re-enactment of section 46
Section 46 of the principal Act is hereby repealed and the following substituted therefor: —“Tax deducted from dividends, interests, etc.
46. Any tax —
(a)
which a person has deducted or is entitled to deduct from any dividend under the provisions of section 44 of this Act or has deducted from any interest or other payment under the provisions of section 45 or 45A of this Act;
(b)
applicable to the share to which any person is entitled in the income of a body of persons or trust,shall, when such interest or other payment or share is included in the chargeable income of any person, be set off for the purpose of collection against the tax charged on that chargeable income.”.