As enacted

Contents

Inland Revenue Act 2006 · As enacted · Chapter XVI · Deductions from Interest Paid by Banks and Financial Institutions

140. Duties of bank and financial institution following deductions of income tax

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

Every bank or financial institution which is required to deduct income tax from the interest paid by it in any year of assessment to any person chargeable with income tax under this Act, shall deduct such income tax at the time when such interest is paid to such person in accordance with any agreement entered into between such bank or financial institution and such person with respect to such payment, and shall remit the amount so deducted to the Commissioner-General before the fifteenth day of the month following the month in which the deduction was made, and at the same time furnish to the Commissioner-General a declaration in such form and in such manner as may be specified by the

Commissioner-General.

Read on from s 141

Chapter XVII