1.　This Law shall come into force as from April 1, 1950.

2.　The amended provision of Article 2 shall apply to the income tax for 1950 or thereafter.

3.　In case the income of an individual, who suffered severe damage from calamities, which occurred within the period between January 1, 1948 and December 31, 1949, on his income producing assets or on his business assets, is computed for the purpose of assessing the income tax for each of the three years from the next year of the year when the individual suffered the damage, the amount equivalent to the amount of damage due to the ruin or destruction of the assets concerned (excluding the damage compensated by the insured money, etc.;hereinafter the same in this Article), which are equivalent to the amount entered in the final return for the year when the individual suffered the damage, and was not deducted, in computing the income for the same year, as necessary expenses in accordance with the provision of Article 5 before the amendment, shall be deemed the necessary expenses under the provisions of the Income Tax Law (Law No.27 of 1947);provided, however, that this shall not apply to the damage which had been deducted before the year prior to each year concerned for the purpose of computing the income.

4.　The provision of the preceding paragraph shall apply only to the case where a person has entered to that effect, the extent of damage and the amount of losses which was not deducted, in computing the income, as necessary expense before the year prior to the year for which he intends to be favoured with the application, in the return for the year concerned as provided for in Article 21 paragraph 1, Article 21-(2) paragraph 1, Article 22 paragraph 1, Article 22-(2) paragraph 1, Article 26 paragraph 1, Article 26-(2) paragraph 1, Article 26-(3) paragraph 1 or Article 29 paragraph 1 or paragraph 2 of the Income Tax Law, excepting the case as provided for in paragraph 5.

5.　In case a person who has been newly allowed, by virtue of paragraph 3, to deduct the amount of the damage incurred as a result of calamities, as necessary expenses in computing his income for 1949, intends to be favoured with the application of the same paragraph for his income tax for the same year, he shall make a request for correction of his income tax for the same year within two months after the enforcement of this Law.

6.　Except for the case falling under paragraph 3, the provision of Article 5 before the amendment shall apply to the income tax for 1949 or therebefore.

7.　In case more than half of the assets of a corporation have been ruined or destroyed on account of calamities which occurred within the period between January 1, 1948 and the closing date of the accounting period covering December 31, 1949, the loss incurred to the corporation due to such ruin or destruction shall, notwithstanding the provision of Article 9 paragraph 4 of the Corporation Tax Law (Law No.28 of 1947) before the amendment by the Law for Partial Amendments to the Corporation Tax Law (Law No.72 of 1950), be counted in the loss, in computing the income for each accounting period ending within three years from the next day of the closing date of the accounting period when the loss concerned has been incurred (as for the accounting period ending on or before March 31, 1950, the normal income for each of the accounting periods;hereinafter the same);provided, however, that this shall not apply to the amount of money deducted, in computing the income for each accounting period from total profits before the accounting period prior to each accounting period.

8.　A corporation which intends to be favoured with the application of the preceding paragraph shall, except for the case provided for in paragraph 9, enter in the return under the provisions of Article 18 paragraph 1, proviso to Article 19 paragraph 1 (including the case where this applies mutatis mutandis in paragraph 7 of the same Article), Article 20 paragraph 1 or Article 21 paragraph 1, for the year, for which it intends to be favoured with the application, to that effect, the extent of damage and the amount of losses incurred from calamities, which was not deducted from total profit, in computing the income for each accounting period, before the preceding accounting period of the accounting period concerned.

9.　A corporation which has been newly allowed, in accordance with the provision of paragraph 7, to deduct from the total profit the loss incurred from calamities for the accounting period having ended before the enforcement of this Law shall, if it intends to be favoured with the accounting period concerned, file a return to correct the amount of normal income, excess income and capital for the accounting period concerned within two months after the enforcement of this Law.

10.　The provision of Article 4 or Article 6 as amended shall apply to the accessions tax on the property acquired by inheritance, bequest or donation on or after January 1, 1950.

11.　The provision of Article 3, Article 4, Article 6 or Article 7 before amendment shall still apply to the estate tax on the inheritance having commenced on or before December 31, 1949.