Page:United States Statutes at Large Volume 48 Part 1.djvu/706

680 May 10, 1934 . [H .R . 7835.1 [Public, No . 216 .1 REVENUE ACT OF 1934 . Table of contents. INCOME TAX , P. 68 3. INTRODUCTORY PROVISIONS, P . 683 . GE NE RAL PRO- VISIONS, P . 684 . Rates of tax, p.684. Net income compu . cation, p . 686. Credits against tax, p. 693. Accounting, p . 694 . Return s and pay- ment, p . 697. Miscellaneous provi- sions, p . 699 73d CONGRESS . SESS. II. CII . 277. MAY 10, 1934 . [CHAPTER 277.) AN ACT To provide revenue, equalize taxation, and for other purposes . Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, Th at th is A ct, divided into titles and sections according to the following Table of Contents, may be cited as the " Revenue Act of 1934" : TABLE OF CON TENTS TITLE I-INCOME TAX SUBTITLE A-INTRODUCTORY PROVISIONS Sec.l. Application of title. Sec.2. Cross references . Sec.3 . Classification of provisions . See . 4. Special classes of taxpayers . SUBTITLE B-GENERAL PROVISIONS PART I-RA TES OF TAX Sec. 11 . Normal tax on individuals . Sec. 12 . Surtax on individuals . Sec. 13 . Tax on corporations . PART II-COMPUTATION OF NET INCOME Sec . 21 . Net income. See . 22. Gross income . Sec . 23 . Deductions from gross income . Sec. 24. Items not deductible. Sec. 25. Credits of individual against net income . Sec. 26. Credits of corporation against net income . PART III-CREDITS AGAINST TAX See. 31 . Taxes of foreign countries and possessions of United States. See. 32 . Taxes withheld at source . See. 33 . Credit for o verpayments . PAR T IV-AccouxT ING PERIODS AND METHODS OF AC COUNTING See . 41 . General rule. Sec . 42 . Period in which items of gross income included . See . 43. Period for which deductions and credits taken . See . 44. Installment basis . Sec. 45 . Allocation of income and deductions . See. 46 . Change of accounting period . Sec. 47 . Returns for a period of less than twelve months . See. 48 . Definitions. PART V-RETURNS AND PAYMENT OF TAX See. 5 1 . Individ ual returns . See. 52 . Corporation returns . Sec . 53. Time and place for filing returns . See. 54. Records and special returns . See. 55. Publicity of returns. See. 56. Payment of tax . Se e . 5 7 . Examination of return and determina tion of tax . See. 58 . Additions to tax and penalties . See . 59 . Administrative proceedings . PART VI-MISC Fr .T .ANEOUS PROVISIONS Sec. 61 . Laws made applicable . Sec. 62 . Rules and regulations . See. 63. Taxes in lieu of taxes under 1932 Act . Sec. 64. Short title.