Section 117A: Basis of assessment on commencement of business

117A. Basis of assessment on commencement of business (1) Any person engaged in business and required to submit a return under section 116 shall, in respect of the commencement year of income, submit a return for a period not exceeding 18 months ending with the date of the annual balance of his accounts. (2) Where the annual balance of accounts in respect of the commencement year of income ends on a date other than 30 June, that date shall be deemed to be an approved return date under section 118. (3) In this section— “commencement year of income” means the income year in which the business of a person commences. [S. 117A inserted by s 19 (m) of Act 14 of 2005 w.e.f. 1 July 2005; amended by s. 17 (w) of Act 17 of 2007 w.e.f. 1 July 2008; s. 21 (l) of Act 14 of 2009 w.e.f.1 July 2009; s. 24 (v) of Act 9 of 2015 w.e.f. 1 July 2015 in respect of the year of assessment commencing on 1 July 2015 and in respect of every subsequent year of assessment.] continued on page I5 – 71 [Issue 9] I5 – 70 (2) Revised Laws of Mauritius