4Signature of returns

4. Every return shall be signed by the person who makes it.

Returns in respect of profits of accounting period and pre-war standard.

5. (1) The return furnished to the Commissioner for purposes of the Income Tax Assessment Act 1915-1916 shall be the return required under these Regulations in respect of the profits of the accounting period.

(2) A return in the first form in the Schedule shall be made and furnished in respect of the pre-war standard of profits.

C. 14071.—Price 5d.

Balance sheets to be furnished with first returns.

6. (1) The return required to be furnished for the purposes of the first assessment of War-time Profits Tax shall be accompanied by balance-sheets compiled as at the end of, and Profit and Loss accounts made in respect of, each accounting period included in the last three pre-war trade years:

Provided that where under sub-section (4) of Section 16 of the Act a taxpayer seeks to substitute for any two of the last three pre-war trade years, any two of the three preceding pre-war trade years for the purposes of the pre-war standard of profits, his return shall be accompanied by balance-sheets compiled as at the end of, and Profit and Loss accounts made in respect of, each accounting period included in the last six pre-war trade years:

Provided further that where owing to the recent commencement of a business there have not been three pre-war trade years, the return shall be accompanied by balance-sheets and Profit and Loss accounts made in respect of so many accounting periods as are included in the period which has elapsed between the commencement of the business and the end of the last pre-war trade year.

(2) Where the accounting period upon which a War-time Profits return is based does not coincide with the period in respect of which a return under the Income Tax Assessment Act 1915-1916 has been made, the War-time Profits return shall be accompanied by balance-sheets compiled as at the end of, and Profit and Loss accounts made in respect of, each accounting period covered by the return.

Signature of partnership returns.