Page:United States Statutes at Large Volume 52.djvu/570

 52 STAT.] 75TH CONG. , 3D SESS.-CH. 289-MAY 28, 1938 shall be determined as provided in section 119, under rules and regula- tions prescribed by the Commissioner with the approval of the Secretary. (b) LossES. - (1) The deduction, for losses not connected with the trade or business if incurred in transactions entered into for profit, allowed by section 23 (e) (2) shall be allowed whether or not connected with income from sources within the United States, but only if the profit, if such transaction had resulted in a profit, would be taxable under this title. (2) The deduction for losses of property not connected with the trade or business if arising from certain casualties or theft, allowed by section 23 (e) (3), shall be allowed whether or not connected with income from sources within the United States, but only if the loss is of property within the United States. (c) CHARITABLE, ETC., CONTRIBUTIONS.- The so-called "charitable contribution" deduction allowed by section 23 (o) shall be allowed whether or not connected with income from sources within the United States, but only as to contributions or gifts made to domestic corporations, or to community chests, funds, or foundations, created in the United States, or to the vocational rehabilitation fund. SEC. 214. CREDITS AGAINST NET INCOME. In the case of a nonresident alien individual the personal exemp- tion allowed by section 25 (b) (1) of this title shall be only $1,000. The credit for dependents allowed by section 25 (b) (2) shall not be allowed in the case of a nonresident alien individual unless he is a resident of a contiguous country. SEC. 215. ALLOWANCE OF DEDUCTIONS AND CREDITS. (a) RgrTRN TO CONTAIN INFORMATION.-A nonresident alien indi- vidual shall receive the benefit of the deductions and credits allowed to him in this title only by filing or causing to be filed with the collector a true and accurate return of his total income received from all sources in the United States, in the manner prescribed in this title; including therein all the information which the Commissioner may deem necessary for the calculation of such deductions and credits. (b) TAX WITHHELD AT SOURCE. - The benefit of the personal exemption and credit for dependents may, in the discretion of the Commissioner and under regulations prescribed by him with the approval of the Secretary, be received by a nonresident alien indi- vidual entitled thereto, by filing a claim therefor with the with- holding agent. SEC. 216. CREDITS AGAINST TAX. A nonresident alien individual 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. 217. RETURNS. (a) REQUIREMENT.-In the case of a nonresident alien individual 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 calendar year, then on or before the fifteenth day of June. (b) EXEMPTION FROM REQUIREMENT. -Subject to such conditions, limitations, and exceptions and under such regulations as may be 3652.)°-38 -34 529 Ante, p. 503. Losses. Not connected with trade or business. Ante, p. 461. Casualty, etc., not connected with busi- ness. Ante, p. 461. Charitable, etc., con- tributions. Ante, p. 463. Credits against net income. Personal exemption. Ante, p. 467. Dependents, if resi- dent of a contiguous country. Allowance of deduc- tions and credits. Return to contain total income from United States sources, etc. Tax withheld at source. Credits against tax. Ante, p. 506. Returns. Time for filing. Ante, p. 477. Exemption.

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