E.—Executors
Executors.
168. (1) Subject as hereinafter provided, the income of the estate of a
deceased person shall be chargeable to tax in the hands of the executor,—
(a) if there is only one executor, then, as if
the executor64 were an individual; or
(b) if there are more executors than one, then,
as if the executors were an association of persons;
and for the purposes of this Act, the executor
shall be deemed to be resident or non-resident according as the deceased person
was a resident or non-resident during the previous year in which his death took
place.
(2) The assessment of an executor under this
section shall be made separately from any assessment that may be made on him in
respect of his own income.
(3) Separate assessments shall be made under
this section on the total income of each completed previous year or part
thereof as is included in the period from the date of the death to the date of
complete distribution to the beneficiaries of the estate according to their
several interests65.
(4) In computing the total income of any
previous year under this section, any income of the estate of that previous
year distributed to, or applied to the benefit of, any specific legatee of the
estate during that previous year shall be excluded; but the income so excluded
shall be included in the total income of the previous year of such specific
legatee.
Explanation.—In this section, “executor” includes an administrator or other person
administering the estate of a deceased person66.