lxiv INDEX. Income Tax-Continued. Interest on deficiencies _____________ _ Irdgation companies exemption ______ _ Jeopardy assessments ______________ _ Interest in case oC ______________ _ Labor organizations exemption ______ _ Laws made applicable ______________ _ Life insurance companies ___________ _ Mines and oil and gas wells, rate on sale of ____________________________ _ Mutual insurance companies exemp- Page. 238 193 235 240 193 190 223 192 tion___________________________ 227 Mutual savings banks exemption __ . . __ 193 National farm loan associations exemp- tion___________________________ 194 Net income-- Adjusted basis for determining gain or loss in computing__________ 198 Basis Jor depreciation and depletion in computing _____________ .. ___ 202 Compt.tation ___________________ 178, 195 Credits against- China Trade Act corporations____ 232 Corporations_ _____________ ____ _ 185 Individuals____________________ 184 Nonresident aliens______________ 229 Deductions for charitable, etc., con- tributions__ __________________ 210 Determination of gain or loss_______ 195 Distributions by corporations__ _____ 203 Estates or trusts, credits against_ ___ 220 Exclusive from gross income_ _ _ _ ___ 204 Income from sources within United States_______________________ 208 Lifp- insurance companies _ _ _ _ ______ 224 Loss from wash sales of stock- _ __ __ 208 Recognition of gain or loss _ ________ 196 "Net. income" defined_______________ 178 Net income, individuals, credits against_ 184 Net income,individuals,exclusionsfrom_ 178 " Net loss" defined __ - _- _____ - _______ 207 Net losses, determination oL _________ 207 Nonresident aliens-- Allowance of deductions and credits_ 229 Credits against net income_________ 229 Credits against tax___ __ ____ __ ___ __ 229 Deductions_____ _______ ____ ______ _ 228 Grossincome_____________________ 228 Normal tax_ __________ ___ ___ _____ 228 Payment of tax___________________ 229 lReturns_________________________ 229 Normal tax, individuals______________ 174 "Ordinary deductions" defined_______ 191 "Ordinary net income" defined_______ 192 Overpayments- Installments_____ __________ ____ ___ 242 Refunds and credits__ __ ____ ____ ___ 242 Partnerships- Capital net gains and losses ________ 223 Computation of incomes_ __________ 222 Income Tax-Continued. Page. Partnerships-Continued. Credits against net income_________ 223 Credits against tax of foreign coun- tries___ ___ ______________ __ __ _ 211 Earned income_ _ ___________ _____ _ 223 Net losses_ _______________________ 223 Partnerships not taxable__ _________ 222 Ret urns oL ______________________ 223 Taxes of foreign countries and pos- sessions of the United States_ __ 223 Tax on partners __________ . . _______ 222 Payment of corporation income tax at source_________________________ 216 Payments- Extension of time; installments, etc_ _ 189 Foreign corporations_ _ _ ___________ 230 Nonresident aliens_ _____________ __ 229 Tax on transfers to avoid__________ 285 Time extension for making _________ 240 Payments under Revenue Act of 1928, credited __ _____________________ 213 Penalties___________ - - _______ ____ ___ 217 Period of limitation on assessment and collection of deficiencies__________ 237 Possessions of the United States- Citizens subject to taxation_ _______ 232 Credits against partnership taxes of _ 223 Credits against taxes oC _________ 185, 211 Estate or trust taxes oL___________ 222 Income from sources within________ 231 Publicity of returns_ _ ___ ___ __ _______ 189 Rates- Accumulation of surplus to evade surtaxes_____________________ 195 Capital net gain and loss___________ 191 Exemption from tax on corporations_ 193 Sale of mines and oil or gas wells_ ___ 192 Taxable period embracing years with different laws____ _____________ 195 Rates of tax ______________________ 174,191 Real estate boards exemptions________ 193 Receiverships- Assessment of deficiency ___________ 237 Interest and additions to tax_______ 240 Recreation clubs exemption__________ 193 Refunds,overpaymcnts______________ 242 Returns- Additions to tax and penalties______ 190 Brokers__________________________ 219 Consolidated returns of corpora- tions ______________________ 188,213 Corporations_ _________ __ _________ 188 Examination of, and determination of tax__________________________ 190 Fiduciary________________________ 214 Foreign corporations_ _ _ ___________ 230 Individuals_____ _______________ ___ 188 Interest, et,c., for failure to file____ __ 238 Nonresident aliens________________ 229
