As enacted

Contents

Act of Parliament · As enacted

Inland Revenue (Amendment) Act 1984

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Official translation, read from a scanFrom Department of Government Printing's scanned PDF, read by OCR; may contain errors

s 1Short title

This Act may be; cited as the Inland Revenue

(Amendment) Act, No. 14 of 1984.

s 2of section 4 of Act No. 28 of 1979

Section 4 of the Inland Revenue Act, No. 28 of 1979

(hereinafter referred to as the “ principal enactment”) is

“hereby amended as follows :—

(1)

by renumbering that section as subsection (1) of that section

;

(2)

by the substitution, for paragraph (d) of the renum-bered subsection (1), of the following paragraph :—~

“ (d) the rental value of any place of residence provided rent-free by the employer or where a place of residence is provided by an employer at a rent less than the rental value, the excess of the rental value over such rent.

For the purposes of this paragraph the rental value of any place of residence shall—

(i)

for any year of assessment commencing on or before April 1, 1983, be the net annual value as defined in section 5 with the addition of the rates paid by the owner and of thirty-three and one-third per centum of such net annual value on account of repairs and other expenses

; and

(ii)

for any year of assessment commencing on or after April 1, 1984, be—

(a)

the amount computed in accordance with item (i) ; or

’ Pe

(b)

the gross rent paid for such place of residence, whichever is higher :

Provided that any excess of the rental value over—

(i)

fifteen per centum of the profits described in paragraphs (a) and (b) of subsection (1), or fifteen thousand rupees, whichever is lower, for any year of assessment commencing on or before April 1, 1983, and 2—¢ 075181—8,800 (84/03)

‘ ?

2 7

Inland Revenue we

‘cae

Sita Tet oo,

Act, No. 14 of 1984s.

3).

(ii)

twenty five per centum of the profits described in paragraphs (a) and (b) of subsection (1), a ox forty-eight. thousand rupees, whichever is’

lower, for any ‘year of assessment commencing“ Clie

‘on or after ‘April 1, 1984,. °°

, shall be disregarded ; - and

3) by the addition, after the renumbered subsection, a

Saas ca the-following subsection :—

Th)

(2)

-For the purposes: of this section, “the. value eh. any benefit”, in relation to an individual who.

. —

ita Boat has received, or derived such. benefit,. .means— cmp

(a)

where the market value of such benefit can be and:

ste 3

ready © ‘as¢ertained; ; s=gueh, market value; fe w!

(b)

where the market value of’ such benefit cannot -

be réadily ascertained, or sach benefit has no market value, the cost'that would have to be incurred by“any other’ individual’ adh

‘obtain such benéfit’: “= 2

sa-Provided that the Commissioner-General,

may, having regard to the. market. value of 4

that benefit or the cost that would have to be incurred by any other individual ‘to obtain that’ benefit, by Order published © in’ the

Gazette, ‘specify the valué'to be placed « on any benefit and’ whetd" a vale is So Specified in

‘Fespect: “ot a Benefit, “Such value shall be

‘deemed to be the value of such benefit. ’ an

s 3

Section 19 .of the principal enaetment is hereby amended in paragraph (h) of subsection (1): of that:section, by the substitution, for the words

“ Calombo Plan Bureau

;”, of the words ' “Colombo Plan Bureau or the Asian Develop-ment Ba

s 4~

Section 10 of the principal enactment is ‘hereby amended by the repeal of paragraph (e): of that.section and the substitution, of the following paragraph therefor : —

“(e) the interest, accruing. to. any person for the period.

during which he was out of Sri-Lanka and for the six years: immediately sueceeding the date: on which he arrives..in Sri Lanka,. and becomes resident in Sri Lanka, on ‘monies lying to. his

Amendment of section 9 of the principal enactment,

Amendment of section 10 of the principal enactment, ee on i dnland Revenue (Amendment)

eredit in foreign currency in any account opened by him, or on hig behalf, in any commercial bank-with the approval of the Central Bank of

Ceylon

;".

s 5Amendment of section 11 of the principal enactment,

Section 11° of the ‘principal enactment is hereby amended in paragraph (b) of that section by the substitu-tion, for the:figures “17, 18, 19, 20, 21”, of the figures “17,

17a, 18, 19, 20, 20a, 21”,

s 6Amendment of section 13 of the principal enactment

Section 13. of. the principal enactment is hereby

. amended as follows :—

| (a) by. the substitution,’ in paragraph (f) of that section for the words and figures “Sri Lanka Export Deve-lopment Act, No. 40 of 1979.”, of the words and figures “Sri Lanka Export Development Act,

No. 40 of 1979; sand

,, @) by the addition, at the end of that section, of the following paragraph :—

“

(9)

under any other scheme for the planting or replanting of any other agricultural product.”

Insertion of new section 17a in the principal enactment

The. following new section is hereby inserted immediately after section 17, and shall have effect as section 17a, of the principal enactment’: —

“Exemption 17a, (1) The profits and income within the tax for five”

meaning of paragraph (a) of section 3 (other yests of the than any profits and income from the sale of profits and

oe income of capital assets) of any company from any certain i i

“eomnpanies

. undertaking referred to in subsection (2)

ammenci

- Shall be exempt from income tax for a period bosiniess on of five years, such period of five years being

November calculated from the date on which such 3% 1983

‘¢

undertaking commenced to carry on business.

(2)

The provisions of subsection (1) shall apply ‘to any company which commenced to carry on business on or after November 17,

1983 and which is approved by the Minister by Order published in the Gazette—

(a)

being a company which is engaged only in carrying on one or more of the undertakings hereinafter speci-fied, namely—

‘

(i)

an undertaking for animal hus-bandry

;

(ii)

an undertaking for the cultiva-tion of sugar cane;

(iii)

an undertaking for marine oF inland fisheries ;

(iv)

an undertaking for carrying on any activity referred to in any cf the foregoing sub-para-graphs and processing the pro-duct of such activity

;

(v)

an undertaking for the produc-tion from any agricultural produce of Sri Lanka of such commodities as may be speci-fied by the Minister, by Order published in the Gazette, having regard to the need to provide incentives for the pro-duction of such commodities ;

(b)

being a company which is an Export

Production Village Company,

(3)

For the purposes of this section

“Export Production Village Company”

means a company—

(a)

which is a People’s Company within the meaning of the Companies Act,

No. 17 of 1982;

(b)

the shareholders of which are the

Export Development Board estab-lished by the Sri Lanka Export

Development Act, No. 40 of 1979, and the producers of any of the pro-ducts produced by that company;

and

-—«.—sS5

(c)

the products of which are exported by the company or through any other company engaged in-the export of goods or commodities :

Provided that this section shall not apply to any company which carries on an under-taking which had commenced to carry on business prior to November 17, 1983, or which was formed by the splitting up or recons-truction of any business which was in exis-tence prior to November 17, 1983.’

8 The following new section is hereby inserted Insertion of immediately after section 20, and shall have effect as 20a in the section 20a, of the principal enactment :—

20a.

- new section principal enactment, ‘Exemption

(1)

Such part: of the profits and from income income, within the meaning of paragraph tax for the export profits

(a)

of section 3, (other than any profits and and income income from the sale of capital assets), of any undertaking as consists of the export profits and income of that undertaking shall

March 31, be exempt from income tax for the period commencing on April 1, 1984 and ending on

March 31, 1989, undertakings from April 1, 1984 to ,

(2)

In this section—

“export profits and income” and “total turnover”

have the respective meanings assigned to them in sub-section (2) of section 20;

“export turnover” when used in relation to an undertaking means the total amount received or receivable by that undertaking from :—

(i} the export of goods or commodi-ties, or

(ii)

the performance of services for payment in foreign currency, such services being ship repair, ship breaking, repair and refurbishment of marine cargo containers, provision of 3 -- 3 075181 (84/03)

computer soft ware, computer programmes, computer systems or recording com-puter data but does not include—

(a)

any amount received or receivable by the sale of capital assets

;

(b)

any amount received or receivable from the sale of gems ;

(c)

any amount received or receivable from the export of black tea in bulk, crepe rubber, sheet rubber, scrap rubber, coconut oil, dessicated coconut, copra, fresh coconuts, or coconut fibre

;

(d)

in the case of an under-taking for the export of garments in respect of which a quota for export has been allocated by the Secretary to the

Ministry of the Minister in charge of

Textile

Industries, any amount received or receivable from the export of garments not exceeding that quota

;

: t : :

(e)

any profits and income not being profits and income within the meaning of paragraph (a) of section 3.

(3)

This section shall not apply to an undertaking for a year of assessment if the export profits and income of that under-taking are exempt from income tax under section 20(1) for that year of assessment. ’.

s 9of section 22np of the principal enactment,

Section 22pp of the principal enactment is hereby amended as follows :—

(i)

by the repeal of paragraph (i) of subsection (1) of that section and the substitution of the following paragraph therefor :—

“ (i) incorporated on oF after April 1, 1988, but prior to April-1, 1984 with not less than ninety-five per centum of its capital con-tributed, in the form of money or other-wise, by—

(a)

the State

; and

(b)

any public corporation or body corporate

; and” ; and

(2)

by the repeal of subsection (2) of that section, and the substitution, of the following subsection there-for :—

“ (2) The exemption referred to in subsection (1)

shall cease when the profits and income of a com-pany which are exempt from income tax under that subsection amount to a sum equal to twice the issued capital of that company as at March 31, 1984.”.

s 10of section 24 of the principal enactment,

Section 24 of the principal. enactment is hereby amended as follows :—

(1)

in subsection (1) of that section, by the insertion, immediately after paragraph (7), of the following paragraphs ;—

.7 oe

“ (0) one-half of the excess of any expenditure incurred by such person for any year of assessment commencing on or after April 1,

1984, in providing any place of residence to an employee of such person or to the spouse, child or parent of such employee over the rental value of such place of residence which is included in the profits from employment of such employee within the meaning of section 4;

Amendment

Amendment te

Act, No, 14.0f 1984

(p)

such part of the rental paid by him under any agreement entered into by him on or after

January 1, 1984, in any year in respect of any vehicle, plant, machinery, fixtures or equipment which is in excess of an amount equal to one-fourth of the total rental payable under such agreement.”

; and

(2)

by the repeal of subsection (2) of that section and the substitution, of the following new subsection therefor :—

“ (2) No person carrying on any trade or business or exercising any profession or vocation shall be entitled to any sum for depreciation by wear and tear, or for renewal, or to any allowance under section 23 (1) (a)

or 23 (1) (e) or 23 (1) (f)—

(a)

for any year of assessment, in respect of any vehicle used for travelling for the purpose of his trade, business, profession or vocation, except in respect of—

(i)

a motor cycle or bicycle used for such purpose by an officer, who is not an executive officer, in the employment of and such person ;

(ii)

a motor coach used for transporting emplo-yees of such person to, or from, their place of work ; and

(b)

for any year of assessment commencing on or after

- April 1, 1984, in respect of any plant, machinery, fixtures, equipment, or articles provided for the use of any officer or employee of such person in the place of residence of such officer or employee, or for any deduction for any rental or annual payment in respect of any such vehicle, plant, machinery, fix-tures, equipment, or articles as are referred to in para-graphs (a) and (b).”.

Amendment

s 11enactment,

Section 29 of the principal enactment is hereby of pection amended as follows :—

principal

(1)

in paragraph (a) of subsection (3) of that section, by the substitution for the words and figures

“section 16A or section 22a”, of the words and figures “section 16a or section 17a or section 22a,” ;

and a i a i iat

{2) in subsection (44) of that section, by the substitution for the word and figures “section 20 ”, wherever such word and figures occur in that subsection, of the words and figures “section 20 or section 20a”,

s 12of section 30 of the principal enactment,

Section 30 of the principal enactment is hereby amended as follows :—

(1)

in subsection (1) of that section—

(a)

by the repeal of paragraph (a) of that sub-section and the substitution of the following paragraph therefor :—

“ (a) an allowance of twelve thousand rupees in resppect of the year of assessment commencing on April 1, 1979, and for each of the four years of assessment immediately Succeeding that year of assessment ;”

; and

{b) by the insertion, immediately after para-graph (a) of that subsection, of the following paragraph—

“ (aa) an allowance of eighteen thousand

Tupees in respect of any year of assessment Commencing on or after

April 1, 1984, and” ; and

(2)

in subsection (2) of that section—

(a)

by the repeal of paragraph (b) of the proviso to that subsection, and the substitution of the following paragraph therefor : —

“(b) an allowance of twelve thousand rupees in respect of the year of assessment commencing on April 1, 1979, and for each of the four years of assessment immediately succeeding that year of assessment ;”; and

(b)

by the insertion, immediately after paragraph (b) of the proviso to that subsection, of the following paragraph—

“(c) an allowance of eighteen thousand rupees in respect of any year of assessment commencing on or after

April 1, 1984, ”,

Amendment

tamer

Pees

s 13tg

Section 31 ‘of the principal ‘enactment-i amended as follows :-—

of section”

i enactment,

(1)

in subsection (2) of that, section—

Act, No. 14 of #84 ©.

ae s hereby

(a)

in paragraph (h) of that subsection, by the substitution, for the words “any premia paid ”, of the words “ any premia paid for any year of assessment commencing on or before

April 1, 1983” ;

(b)

by the insertion, immediately after paragraph (hh) of that subsection, of the following paragraph :—

“ (hhh) any premia paid for any year of assessment commencing on or after

April 1, 1984, being premia which.

a has accrued due for payment—

(i)

on a life insurance policy (not being a pure endowment, policy), the annual. .premia in respect of which are payable over a period of at.

Ta least five years ;

(ii)

for the purchase of an annuity, the annual premia in respect, of which are payable over a.

period of at: least five years ;

(iii)

on a policy of medical,

“insurance, not being premia paid outside Sri Lanka—

(a)

in respect of any policy issued outside.

Sri Lanka after July 4, 1957, or

(b)

for the purchase of an annuity outside

Sri Lanka after July 4, 1957 ;”; and

Amendment,

31 of the principal

(c)

by the insertion, immediately after paragraph.

(n)

of that subsection, of the following para-.

graph :—

watt

“-

(g9)

..for any. year of assessment commencing:

on or after April 1, 1983, any amount:

spent by an individual in connection.

with the education outside Sri Lanka.

ie“. Saari ae

Intond:Revenue (Amendment)

of an unmarried: child under. twenty-five years of age, such education being—

(a)

under-graduate education or course of training for which adequate facilities are in the opinion of ‘the Secretary to the

Ministry of the Minister in charge of the subject of Higher

Education, not available in Sri

Lanka

; or -

(b)

post-graduate ‘education in a university ‘or other institution of post-graduate education.”.

(2)

in subsection (7) of that section, by the substitution for the words “in paragraph (d) ”, of the words “in paragraphs (d) and (m)”; and —

(3)

the amendment made by subsection (2) of this section shall be deemed to have come into force on June 24, 1980.

s 14of section 32 of the principal enactment,

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

(1)

in paragraph (a) of subsection (1) of that section—

(a)

by the substitution, i in subparagraph (ii) of that paragraph, for. the expression “in respect of any year ‘of. assessment. commencing on or after April 1, 1980”, of the expression “in respect of the year of assessment commencing on April 1, 1980, and in respect of the next three years of assessment immediately succeeding that year of assessment” ; and

(b)

by the insertion immediately after sub-para-graph (ii) of that paragraph, of the following sub-paragraph :—

“ (iii) in respect of any year of assessment commencing on or after April 1, 1984, cat the appropriate rates specified in

Part IIA of the First Schedule to this

- Aet;”; and

Amendment

Act, No: 14-0f 1984

(2)

. bythe repeal of the proviso to subsection (i) and the to substitution therefor of the following new proviso :—

“ Provided that the income tax payable by an 7

individual who is deemed to be non-resident under subsection (7) of section 67 shall not be more than the amount by which his assessable income exceeds—

(i)

twelve thousand rupees in respect of the year of ‘assessment commencing on April 1, 1980

and for the next three years of assessment immediately succeeding that year of assess-ment; and

(ii)

eighteen thousand rupees for any year of assess-ment commencing on or after April 1, 1984.”.

s 15Amendment of section 33 of the principal enactment

Section 33 of the principal enactment is hereby amended as follows :—

(1)

in the proviso to paragraph (b) of subsection (1)

of that section, by the substitution, for the expres-sion “for any year of assessment commencing on or after April 1, 1980.", of the expression “for the year of assessment commencing on April 1, 1980 and for each of the three years of assessment immediately succeeding that year of assessment”;

and

(2)

in paragraph (c) of subsection (2) of that section by the substitution for the words “ company other than a quoted public company of the word “ company ,

s 16Amendment of section 35 of the principal enactment

Section 35 of the principal enactment is hereby amended by the repeal of paragraph (d) of that section, and the substitution of the following paragraph therefor :—

“t (d) that dividend is a dividend declared by a quoted public company on or after April 1, 1980 but before April 1, 1984”.

s 17Amendment of section 37 of the principal enactment,

Section 37 of the principal enactment is hereby amended by the repeal of paragraph (d) of that section, and the substitution of the following paragraph therefor :—

ve (d) if the relevant dividend is paid out of the amount of a dividend received by such resident company from a quoted public company on or after April 1,

I ee a, it ia iain tential oath 1980 and prior to March 31, 1984, income tax equivalent to five per centum of the amount of such relevant dividend.”’.

Section 38 of the principal enactment is hereby amended as follows :—

enactment,

(1)

in subsection (1) of that section—

(a)

by the substitution, for the words, “Every resident company, other than a quoted public company,”, of the words “Every resident company”; and

(b)

by the substitution, for the words “ payable after April 1, 1980.”, of the following :—

“payable after April 1, 1980:

Provided that nothing in the preceding pro-visions of this subsection shall apply to any dividend declared by a quoted public company on or after April 1, 1989 but prior to April 1,

1984.”

; and

(2)

in paragraph (c) of the proviso to subsection (3) of that section, by the subsititution for the words

“any dividend received”, of the words “any dividend received on or after April 1, 1980 but prior to April 1, 1984. ”.

s 19Replacement of section 41 of the principal enactment,

Section 41 of the principal enactment is hereby repealed and the following section substituted therefor :—

‘Charge to 41, Subject to the other provisions of this weelth tax.

Chapter there shall be charged—

(a)

for the year of assessment commencing on April 1,1979,and for each of the four years of assessment immediately succeeding that year of assessment, in respect of the taxable wealth of every person on the first day of that year of assessment

; and

(b)

for every year of assessment commen-cing on or after April 1, 1984, in res-pect of the taxable wealth of every person on the last day of that year of assessment,

Amendment principal i4

Jalan Revenue Amendment}

. Het; Noi 14 of 1984

a tax: (heréliafter-referred to as'the “wealth-tax”) atthe appropriate “ratesspecified in the Fourth ‘Schedule to this Act.’.

s 20-

Section 45 of the ‘principal’ enactment, ‘is heréby amended by the repeal of paragraph (v)-of that sectién and the substitution, of the: following. paragraph therefor :—

“ (v) such year of assessment being an year of assessment in which the interest accruing. to ‘suvh person from monies deposited in any such account as is referred to in. paragrapli ©

of section 10 is exempt from income tax under that paragraph, the monies lying: to his credit. in such account consisting .of the monies. deposited in such aceount..and the interest accrued. thereon. ”.

s 21Amendment’ of section 54 of jhe . princip . enactment,

Section 54-of the’principal enactment is hereby amended by the ‘repeal of paragraph (f) of subsection (1)

of that section and ‘the

- substitution, of the following paragraph therefor

:—

“ (f) if the value of such eit, or if more than one gift

1s made >

@uring the year of assessment, the aggregate value of such’ gifts, does not exceed—

{i) two thousand rupees, in the case of a gift or gifts made in the year of assessment commencing on.April,

1, 1979 or: any one of the’next four succeeding years of

. agseSsment; and =.

Cooay

(ii)

: five’ thousand. xupees, in the case of a gift or

Sifts. made in any year of assessment

Amendment of section 73 of the principal enactment.

22., Section. 73 of the principal enactment is hereby amended by the repeal of subsection (14) of that section and, the substitution therefor of the following subsection :~-

“ €1a4) Where the assessable income of an individual deemed to be non-resident under subsection (7)

of section 67, consists solely of income from services rendered in Sri Lanka and does not exceed—..

coo

oO twelve thousamd rupees in respect of the

. year. of

. assessment commencing on

April 1, 1980, and for the three years of assessment immediately succeeding. that year of assessment

; and

(ii)

eighteen thousand rupees for any-year of assessment, SpeamendDg: on or. after such income shall not, Be taxable,”,

s 23of section 92 of the principal enactment,

Section 92. of the principal enactment. is hereby amended in subsection (5): of that section as-follows :—

(1)

by the substitution, in’ paragraph (b). of the sub-section for’ ‘the-words’“ specified fn such notice. ”, of the words “specified in such notice; ” ; and

(2)

by the addition, at the. end of that subsection, of the following paragraph :—

‘(c) to furnish within the perlod specified in such notice, such information as may be called for in that notice in relation to any trans-

‘actions between such’ ‘person and any other person or class of persons.

Where a notice has been given to any person under this subsection requiring him to furnish any information, such person shall comply with the requirements of such notice notwithstanding any-thing to the contrary in any other law prohibiting the furnishing of such information. .

For the avoidance of doubts, it is hereby declared that references in this subsection to “any. person”

include..a.reference, to a banker.’.

s 24Insertion of new section 92a.in the principal enactment

The oS

Tan pray fF Beg following new section is hereby inserted immediately after section 92, and shall have effect as section 92a, of the principal enactment :—

‘ Audit reports to be furnished by partners &c.

92a, (1) An assessor may give notice in writing to a partner of a partnership, or to any other person,-who carries on or exercises any trade, business, profession or vocation, requiring such person to furnish for any year of assessment a statement of accounts and any schedules containing such particu-lars as may be specified inthe notice, of such trade, business, profession or vocation, for that year of assessment or for. any périod in respect of which the statutory income for that year of assessment is computed..

Amendment

Iniand Revenue (Amendment)

>»

(2)

Where a statement of accounts in support of a return of income furnished by any person for the purposes of this Act is prepared by an approved accountant, such statement shall be accompanied by—

(a)

a certificate of an approved accountant in such form and containing such particulars as may be specified by the Commissioner-General

; and

(bo)

schedules containing such particulars relating to the statement of accounts as may be specified by the

Commissioner-General.

(3)

For the purpose of this section

“ approved accountant ” means—

(a)

an accountant who is a member of the

Institute of Chartered Accountants of Sri Lanka ;

(b)

an accountant who is approved by the

Commissioner-General for the | pur-poses of the definition of “ authoriz-ed representative” ; and

(c)

any individual who is registered as an auditor under the Companies

(Auditors)

Regulations and approved by the Commissioner-General for the purposes of the definition of “authorized represen-tative”’.’.

s 25of section 96 of the principal enactment,

Section 96 of the principal enactment is hereby amended in paragraph (a) of subsection (1) of that section, by the substitution, for the words “one thousand rupees ;”’, of the words “five thousand rupees ;”.

s 26Replacement of section 128 of the principal enactment

Section 128 of the principal enactment is hereby repealed and the following section substituted therefor :—

“Natice to

“128. (1) Before taking proceedings to defaulters, recover any tax in default in any manner hereinafter provided, the Commissioner-General shall, subject to the provisions of subsection (2), issue notice in writing to the defaulter stating—

(a)

the particulars of such tax, and

Amendment

Inland: Revenue i({ Amendment)

(o)

that action is being contemplated to recover such tax.

(2)

Where the Commissioner-General is satisfied that compliance with the procedure set out in subsection (1) for the recovery of any tax in default is inexpedient and that immediate action is mecessary for the recovery of such tax, he may take proceed-

‘ings to recover such: tax without issuing a notice to the defaulter as required by that subsection.

Where the

Commissioner-General takes. proceedings, under this subsection, to recover any tax in default, he shall, within’ fourteen days of the date on which he takes ‘such proceedings, issue a notice to the defaulter stating the particulars of the tax in respect of which such proceed-ings have been taken, and the nature of such proceedings,

(3} If such defaulter has not appealed within the proper time against. the assess-ment or assessments in respect of which such tax is charged, he may, within thirty days of the notice issued under subsection (1) or (2), make any objection to the tax so charged, and the Commissioner-General °

shall, notwithstanding, thé provisions of section 123, consider such objection and give his decision thereon which shall be final.

(4)

Where the tax recovered as a result of any proceedings taken under subsection (2)

is in excess of the amount of tax determined, under subsection (3), to be payable by the defaulter in respect of any year of assess-ment, such excess shall, notwithstanding anything in section 149, be refunded to the defaulter

Provided that no refund under this sub-section shall exceed the tax recovered as a result of proceedings taken under subsection (2).”.

Inland Revenue (Anendment)

s 27Amendment of section 151 of the principal enactment,

Section 151 of the principal enactment is hereby amended as follows :-—

(a)

by the substitution, for the words “two thousand

“rupees” wherever those words occur in that section, of the werds “ seven thousand five hundred rupees tr

; and

(bd)

by the substitution, for the words “five thousand rupees”, wherever those words. occur in that section, of the words. “ten. thousand rupees”.

s 28Amendment of section 157 of the principal enactment

Section 157. of the principal enactment is hereby amended by the substitution, for the words “ Deputy

Commissioners of Inland Revenue” of the words “ Deputy

Commissioners of Inland Revenue, Senior Assessors of

Inland Revenue ”.

Read on from s 29