Inland Revenue Act 2006 · As enacted · Chapter VII · Ascertainment of Taxable Income
33. Taxable Income
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
The taxable income of an individual or a charitable institution who or which is resident in Sri Lanka in any year of assessment shall be the assessable income of that individual or that institution for that year of assessment after deducting therefrom the aggregate of—
an allowance of three hundred thousand rupees ;
and
any allowance to which such individual or institution is entitled under section 34 :
Provided that an individual who is a trustee, receiver, executor or liquidator shall not be entitled to deduct the allowance referred to in paragraph (a) as such trustee, receiver, executor or liquidator.
The taxable income of any person (other than any resident individual or any charitable institution) for any year of assessment shall be the assessable income for that year of assessment of that person after deducting therefrom any allowance to which such person is entitled under section 34.
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