Income Tax Act, 1962 (Act No. 58 of 1962)

Chapter II: The Taxes

Part II : Special Provisions Relating to Companies

40A. Close corporations
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(1)Where any close corporation has been converted into a company, such company and such close corporation shall for the purposes of this Act be deemed to be and to have been one and the same company.

[Section 40A(1) substituted by section 60(1) of the Taxation Laws Amendment Act, 2010 (Act No. 7 of 2010) - effective 1 January 2011]

 

(2)[Section 40A(2) deleted by section 28(1) of the Income Tax Act, 1990 (Act No. 101 of 1990)]

 

(3)[Section 40A(3) deleted by section 28(1) of the Income Tax Act, 1990 (Act No. 101 of 1990)]

 

(4)[Section 40A(4) deleted by section 28(1) of the Income Tax Act, 1990 (Act No. 101 of 1990)]

 

[Section 40A inserted by section 25 of the Income Tax Act, 1984 (Act No. 121 of 1984)]