Links from Section 122 | ||
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Act | Linked to | Context |
Taxes Consolidation Act, 1997 |
(b) the profits or gains of which are chargeable to tax under Case III of Schedule D, |
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Taxes Consolidation Act, 1997 |
(a) the individual shall be deemed for the purposes of section 112 or, in a case where profits or gains from an employment with that person would be chargeable to tax under Case III of Schedule D, for the purposes of a charge to tax under that Case to have received in the year of assessment in which the release or writing off took place as a perquisite of an office or employment with that person a sum equal to the amount which is released or written off, and |
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Taxes Consolidation Act, 1997 |
(2) Where, for the whole or part of a year of assessment, there is outstanding, in relation to an individual, a preferential loan, the individual shall, subject to subsection (4), be treated for the purposes of section 112 or a charge to tax under Case III of Schedule D, as having received in that year of assessment, as a perquisite of the office or employment with the employer who made the loan, a sum equal to the difference between the aggregate amount of interest paid in that year and the amount of interest which would have been payable in that year, if interest had been payable on the loan at the specified rate and the individual or, in the case of an individual— |
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Taxes Consolidation Act, 1997 |
(a) the individual shall be deemed for the purposes of section 112 or, in a case where profits or gains from an employment with that person would be chargeable to tax under Case III of Schedule D, for the purposes of a charge to tax under that Case to have received in the year of assessment in which the release or writing off took place as a perquisite of an office or employment with that person a sum equal to the amount which is released or written off, and |
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Taxes Consolidation Act, 1997 |
“qualifying loan” has the meaning assigned to it by section 244(1)(a); |
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Taxes Consolidation Act, 1997 |
(4) Where for any year of assessment a sum is chargeable to tax under subsection (2) in respect of a preferential loan or loans or under subsection (3) in respect of an amount of interest written off or released, the individual to whom the loan or loans was or were made shall be deemed for the purposes of section 244 to have paid in the year of assessment an amount or additional amount of interest, as the case may be, on the loan or loans equal to such sum or the individual by whom the interest written off or released was payable shall be deemed for those purposes to have paid in the year of assessment the interest released or written off. |
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Taxes Consolidation Act, 1997 |
(b) For the purposes of this section, a person shall be regarded as connected with another person if such person would be so regarded for the purposes of section 250. |
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Taxes Consolidation Act, 1997 |
(6) Any amount chargeable to tax by virtue of this section shall not be emoluments for the purpose of section 472. |
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Taxes Consolidation Act, 1997 |
(i) whose spouse is chargeable to tax for the year of assessment in accordance with section 1017, the spouse of the individual, or |
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Taxes Consolidation Act, 1997 |
(b)who is a civil partner whose civil partner is chargeable to tax for the year of assessment in accordance with the provisions of section 1031C, the civil partner of the individual, shall be charged to tax accordingly. |
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Taxes Consolidation Act, 1997 |
(ii) whose civil partner is chargeable to tax for the year of assessment in accordance with section 1031C, that civil partner, |
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Links to Section 122 (from within TaxSource Total) | ||
Act | Linked from | Context |
(c) the benefit arising from a preferential loan which is treated as a perquisite for the purposes of section 112 by virtue of section 122 of the Act, or |
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(b) the benefit arising from a preferential loan which is chargeable to income tax as a perquisite for the purposes of section 112 of the Act by virtue of section 122 of the Act, or |
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Taxes Consolidation Act, 1997 |
“employee” and “employer” have the same meanings, respectively, assigned to them by section 122; |
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Taxes Consolidation Act, 1997 |
“preferential loan” has the same meaning as in section 122; |
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Taxes Consolidation Act, 1997 |
(2) Where an employee, or a person connected with him or her, acquires shares in a company (whether the employing company or not) and those shares are acquired at an under-value in pursuance of a right or opportunity available by reason of his or her employment, he or she shall be deemed to have the benefit of a loan on which no interest is payable (in this section referred to as the “notional loan”) made directly or indirectly to him or her by a person who at the time the loan is made is, or who at a time subsequent to the making of the loan becomes, an employer in relation to the individual and such notional loan shall be deemed to be a preferential loan to which section 122 applies. |
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Taxes Consolidation Act, 1997 |
(6) If the notional loan terminates in a manner referred to in subsection (5) (b) or (c), the provisions of section 122(3) shall apply as if an amount equal to the then outstanding amount of the notional loan had been released or written off from a loan within that section. |
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Taxes Consolidation Act, 1997 |
(1) A reference to a loan in section 122 or in Part 8 shall be deemed to include a reference to a credit transaction. |
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Taxes Consolidation Act, 1997 |
“specified rate” means the rate specified in paragraph (iii) of the definition of “the specified rate” in section 122. |
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Taxes Consolidation Act, 1997 |
(c) an arrangement or agreement under which a loan, the provision of a benefit or the loan of, or the provision of the use of, an asset is made to an employee by his or her employer shall not be an arrangement or agreement within the meaning of a benefit scheme where the provisions of section 118, 118A, 121, 121A or 122 apply to such loan, the provision of such benefit or to the loan, or provision, of such asset. |
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Taxes Consolidation Act, 1997 |
(B) the tax that would have been payable by the individual as if section 118, 118A, 121, 121A or 122, as appropriate, had applied to such loan or to the provision of such asset or benefit up to the date that that loan is repaid or to the date that such asset or benefit ceases to be available to that individual, as the case may be, |
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Taxes Consolidation Act, 1997 |
(B) the tax that would have been payable as if section 122 had applied in respect of the amount of the loan repaid up to the date that that amount is repaid. |
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Taxes Consolidation Act, 1997 |
(c) Where for any year of assessment that this subsection applies, then, in relation to the provision of the loan of, or the provision of the use of, an asset referred to in paragraph (a)(i)(II), there shall, if not otherwise chargeable to income tax, be deemed to be income of that employee or former employee for that year of assessment chargeable to income tax under Case IV of Schedule D an amount equal to an amount that would, if section 118, 118A, 119, 121, 121A or 122 had applied in respect of the loan of, or the provision of the use of, that asset be deemed to be an expense, emolument or perquisite chargeable to tax under Schedule E by virtue of those sections. |
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Taxes Consolidation Act, 1997 |
(c) any sum treated for the purposes of section 112 as a perquisite of an office or employment by virtue of section 122, |
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Taxes Consolidation Act, 1997 |
(c) any sum treated for the purposes of section 112 as a perquisite of an office or employment by virtue of section 122, |
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Taxes Consolidation Act, 1997 |
(c) any sum treated for the purposes of section 112 as a perquisite of an employment by virtue of section 122; |
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Taxes Consolidation Act, 1997 |
(c) particulars of any preferential loan (within the meaning of section 122) made, released or written off by that employer in whole or in part and particulars of any interest released, written off or refunded by that employer in whole or in part and which was payable or paid on such loan, |
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Taxes Consolidation Act, 1997 |
(ii) the benefit arising from a preferential loan which is treated as a perquisite for the purposes of section 112 by virtue of section 122, and |