INCOME TAX 79 SEC. 233. ALLOWANCE OF DEDUCTIONS AND CREDITS. A foreign corporation shall receive the benefit of the deductions and credits allowed to it in this chapter only by filing or causing to be filed with the collector a true and accurate return of its total income received from all sources in the United States, in the manner pre- scribed in this chapter; including therein all the information which the Commissioner may deem necessary for the calculation of such deductions and credits. SEC. 234. CREDITS AGAINST TAX. Foreign corporations shall not be allowed the credits against the tax for taxes of foreign countries and possessions of the United States allowed by section 131. SEC. 235. RETURNS. (a) TIME OF FILING. -In the case of a foreign corporation not having any office or place of business in the United States the return, in lieu of the time prescribed in section 53 (a) (1), shall be made on or before the fifteenth day of the sixth month following the close of the fiscal year, or if the return is made on the basis of the calen- dar year then on or before the fifteenth day of June. If any foreign corporation has no office or place of business in the United States but has an agent in the United States, the return shall be made by the agent. (b) EXEMPTION FROM REQUIREMENT.- Subject to such conditions, limitations, and exceptions and under such regulations as may be prescribed by the Commissioner, with the approval of the Secretary, corporations subject to the tax imposed by section 231 (a) may be exempted from the requirement of filing returns of such tax. SEC. 236. PAYMENT OF TAX. (a) TIMrE OF PAYMENT.- In the case of a foreign corporation not having any office or place of business in the United States the total amount of tax imposed by this chapter shall be paid, in lieu of the time prescribed in section 56 (a), on the fifteenth day of June following the close of the calendar year, or, if the return should be made on the basis of a fiscal year, then on the fifteenth day of the sixth Illontlh following the close of the fiscal year. (b) WITHHOLDING AT SOURCE. - For withholding at source of tax on income of foreign corporations, see section 144. SEC. 237. FOREIGN INSURANCE COMPANIES. For special provisions relating to foreign insurance companies, see Supplement G. SEC. 238. AFFILIATION. A foreign corporation shall not be deemed to be affiliated with any other corporation within the meaning of section 141. Supplement J-Possessions of the United States SEC. 251. INCOME FROM SOURCES WITHIN POSSESSIONS OF UNITED STATES. (a) GENERAL RULE. - In the case of citizens of the United States or domestic corporations, satisfying the following conditions, gross income means only gross income from sources within the United States- (1) If 80 per centum or more of the gross income of such citizen or domestic corporation (computed without the benefit of this section), for the three-year period immediately preceding the close of the taxable year (or for such part of such period immediately preceding the close of such taxable year as may be applicable) was derived from sources within a possession of the United States; and
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