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As enacted
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Contents

29. Amendment of section 135 of the principal enactment

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

Section 135 of the principal enactment as last amended by Act, No.22 of 2011 is hereby further amended in subsection (1), by the substitution for the words and figures

“at the time of the issue of such corporate debt security.”, of the words and figures “at the time of the issue of such corporate debt security:

Provided that-

(a)

where such corporate debt security is issued with floating rate of interest payable for reviewing periods, such deduction shall be made at the time of beginning of each such reviewing period of interest rate;

(b)

where any corporate debt security issued prior to

April 1, 2011 and to which interest is payable on or after April 1, 2011 and in respect of which no deduction of income tax on interest has been made, such deduction shall be made at the time such interest is paid or credited;

(c)

no deduction of income tax under this section shall be made from any interest or discount referred to in paragraph (o) of section 9.”.

Read on from s 30