20. Amendment of section 32 of the principal enactment

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

Section 32 of the principal enactment is hereby amended as follows :–

(1)

in subsection (1) of that section, by the substitution, in paragraph (a) of that subsection, for the words and figures “Part I of the First Schedule”, of the words and figures “Parts I and IA of the First

Schedule”;

(2)

in subsection (2) of that section –

(a)

by the substitution, for the words and figures,

“Part III of the First Schedule”, of the words and figures “Parts III and IIIA of the First

Schedule”;

(b)

in the proviso to that subsection by the substitution for all the words from “such sum”, to the end of that proviso, of the words “such sum shall be chargeable with income tax in the manner provided for in subsection (3) as if the references in that subsection to ‘capital gain’ were references to ‘such sum’;

Inland Revenue (Amendment)

(3)

in subsection (4) of that section, by the substitution, for the words “a person includes any capital gain”, of the words “a person, for any year of assessment commencing prior to April 1, 2002, includes any capital gain”;

(4)

in subsection (5) of that section, by the substitution, for the words “a person includes any capital gain”, of the words and figures“a person, for any year of assessment commencing prior to April 1, 2002, includes any capital gain”; and

(5)

in subsection (6) of that section, by the substitution, for the words “a person includes any capital gains”, of the words and figures“a person, for any year of assessment commencing prior to April 1, 2002, includes any capital gain”;.

Read on from s 21