Inland Revenue Act 2006 · As enacted · Chapter V · Ascertainment of Total Statutory Income
29. Apportion ment of profits
Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk
Official translationFrom Department of Government Printing, unchanged
Where in order to ascertain the profits or losses of any trade, business, profession, vocation or employment for any year of assessment or other period, it is necessary to divide and apportion in relation to specific periods the profits or losses for any period for which accounts have been made up, or to aggregate any such profits or losses or any apportioned parts thereof, it shall be lawful to make such division, apportionment or aggregation, as the case may be.
Any apportionment of the profits or losses for any period for which accounts have been made up, shall be on the basis that such profits or losses accrued evenly over that period.
Chapter VI
Ascertainment of Assesable Income
Chapter VII
Ascertainment of Taxable Income
Chapter VIII
Chapter IX
Special Provisions Relating to the Taxation of Certain Profits and of Dividends Out of Such Profits
Chapter X
Companies
Chapter XI
Special Cases a – Children
Chapter XII
Chapter XIII
Payment of Tax by Self-Assessment
Chapter XIV
Deduction of Income Tax from Remuneration of Employees by Employers
Chapter XV
Provisions Relating to the Payment of Income Tax by a Government Institution
Chapter XVI
Deductions from Interest Paid by Banks and Financial Institutions
Chapter XVII
Deduction of Income Tax from Specified Fees Paid by Specified Persons
Chapter XVIII
Chapter XIX
Chapter XX
Deduction of Income Tax from Any Annuity or Royalty Paid or Any Management Fee Paid or Similar Payment Made by Any Person or Partnership
Chapter XXI
Retention of Moneys in Certain Provident Funds
Chapter XXII
Assessments
Chapter XXIII
Appeals A-Appeals to the Commissioner-General
Chapter XXIV
Finality of Assessments and Penalty for Incorrect Returns
Chapter XXV
Tax in Default and Sums Added Thereto
Chapter XXVI
Recovery of Tax
Chapter XXVII
Miscellaneous
Chapter XXVIII
Repayment
Chapter XXIX
Penalties and Offences
Chapter XXX
Administration
Chapter XXXI
General
Chapter XXXII
Interpretation
Chapter XXXIII