Page:United States Statutes at Large Volume 47 Part 1.djvu/1712

INDEX. lxiii Income Tax-Continued. Page. Income Tax-Continued. Paee. Credits--ContiDl~ed. Taxes of foreign c')untries and pos- sessions of the United States_ __ 211 Credits aga.ins~ partnership net in- comes________________________ 223 Credits against tax _________________ 185,211 Cross references, effect oL ___________ 173 Curtesy, relinquishment of, as consider- ation__________________________ 280 Deficiencies- Additions to tax in case oL________ 239 Extension of time for payment_ _ ___ 240 Intereflt on___ _______ __ ___ ____ ____ 238 Definitions- "Affiliated group" ______ . ________ • 213 "Capital assets" _ _________________ 192 "Capital deduction" ______________ 191 "Capital gain" _______________ __ __ 191 "Capital loss" ____________________ 191 "Capital net gain" ________________ 191 "Capital net loss" ________________ 192 "Deficiency"___ ________ ____ ______ 233 "Fiscal year" _ ______ __ ___________ 188 "Foreign trust" _ ____________ ___ __ 285 "Gross income" _ ___________ __ __ __ 178 "Net income" ____________________ 178 "Net loss" ____ ____ ___ ____________ 207 "Ordinary deductions" ___ _______ __ 191 "Ordinary net income"____________ 192 "Paid or accrued" ________________ 188 "Paid or incurred" _ _ _____________ 188 "Taxable year" _ _ _________ ____ __ _ 187 Depreciation, basis for, in determining netincome_____________________ 202 Dower, relinquishment of, as considera- tion___________________________ 280 Effective date of title________________ 191 Employees' beneficiary associations, ex- emption_ _ __________________ ___ 194 Erroneous payments, credit oL _____ 185,242 Estates or trusts- Capital net gain and losses_________ 221 Different taxable years____________ 220 Employees, trusts_________________ 221 Imposition of tax_________________ 219 Income for gramor's benefit________ 221 Net income, credits againsL_______ 220 Net 10sses____ ___ __ ______ _________ 222 Revocable trusts__________________ 221 Taxes of foreign countries and posses- sions of the United States______ 222 Exemptions from tax on corporations_ _ 193 Failure to file return________________ 238 Farmers' associations exemption______ 193 Farm loan associations exemption_____ 194 Federal intermediate credit banks ex- emption_ _ ____ __ __ __ __ _________ 194 Federal land banks exemption________ 194 Fiduciaries- Notice_of fiduciary relationship_____ 242 Returns_________________________ 214 Foreign corporations. See Corporations. Foreign countries- Credits against partnership taxes of _ 223 Credits against taxes oL _________ 185,211 Estate or trust taxes of____________ 222 Foreign items, collection oL__________ 219 Fraternal beneficiary orders exemption_ 193 Fruit growers' associations exemption__ 193 Gift taxes. See Gift Tax Act, 1932. Gross income-- Deductions from___ _________ ______ 179 Defined__________________________ 178 Exclusions from ________________ 178,204 Foreign corporations_ _ ____________ 229 Items not deductible______________ 183 Life insurance companies __ ________ 224 Nonresident aliens_ _______________ 228 Period in which items of, included_ _ 185 Horticultural organization exemption__ 193 Imposition of estate or trust tax______ 219 Individuals- Credits of, against net income______ 184 Normal tax rate__________________ 174 Returns of __ ____ __ ____ __ ________ _ 107 Surtax rates on incomes_ __ _____ ___ 174 Information at Bource .. _____ ____ _____ 218 Information by corporationB_ _ _ ______ 218 Installment payments_ ______________ 185 Insurance companies- Benevolent life insurance companies, exemption from tax- _____ .. ____ 193 Computation of gross income_______ 227 Definitions__ ______________ ____ ___ 225 Farmers' mutual, exemption_ __ ____ 193 Foreign insurance companies_______ 230 Life insurance companies__________ 223 Gross income___________________ 224 Netincome____________________ 224 Mutual compan~es exemption_______ 227 Net losses __ __ ___________________ 227 Taxes of foreign countries and posses- sions of the United States______ 227 Interest and additions- Bankruptcy and receiverships_ _ ____ 240 Extension of time for payment of deficiency____________________ 240 Extension of time for payment of tax shown on return______________ 240 Failure to file return______________ 238 Interest on deficiencies_ __ _________ 238 Jeopardyassessments_____________ 240 Nonpayments____________________ 239 Removal of property or departure from United States___________ 240 Interest in case of jeopardy assess- ments_ ________________________ 240