66 INCOME TAX 
deduction, it often happens that the earned part, 
or that part assessed under Schedule A, is insufficient 
to allow the adjustment, and then a repayment claim 
is necessary. It is therefore essential that all divi- 
dend counterfoils and other vouchers ghowing the tax 
paid should be preserved for presentation in support 
of the repayment claim, as already mentioned. 
The financial year runs from April 6th to April 5th. 
Repayment claims can be made, as soon as the whole 
income for the year has been received; but if it is 
desired to make a claim half-yearly, a claim can be 
made, showing the prospective income for the year, 
and supported by counterfoils of dividend warrants, 
property tax receipts, etc., for the first half-year. 
In that case, half the year’s rebate will be made, 
subject to adjustment when the next half-yearly claim 
is put in. In the case of owners of property, very 
probably the assessments will be corrected so as to 
render the second claim unnecessary, but there is, 
at present, no means of doing this in the case of 
ordinary dividends or interest. 
Where a dividend is paid in arrear, say on May 15th, 
in respect of the Company’s year ending March 31st, 
the dividend is considered as forming part of the 
income of the year ending April 5th intervening. 
A tradesman need not make up his books to April 
5th, but can select any suitable date he likes, provided 
he adheres to it consistently. 
Except in the case of Naval and Military Pay, 
all allowances were, up to 1920, made first from 
Earned Income, and only from the Unearned part 
when the former was insufficient.