Inland Revenue (Amendment) Act 2003 · As enacted
16. Amendment of section 123 of the principal enactment
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
Section 123 of the principal enactment is hereby amended as follows :—
by the substitution for all the words “a payment referred to in section 122, then”, of the words “a payment of interest referred to in section 122, section 122A or section 122B, then ”;
in paragraph (a) of that section by the substitution for the word and figure “section 122”, of the words and figures “section 122, section 122A or section 122B”;
in paragraph (b) of that section —
by the substitution for the word and figure
“section 123”, of the words and figures
“section 122, section 122A or section 122B”;
by the substitution for the words “amount set out in such statement”, of the words “amount set out in such statement :”; and
by the addition immediately after paragraph (b) of that section of the following :—
“Provided however, where the total income on which tax has been deducted under section 122A or section 122B, accrues over more than one year of assessment and has not been included in full in computing the assessable income of such person for any year of assessment, then such deduction shall be restricted to the propotionate amount of tax so deducted which is attributable to the income included in the assessable income of such person in that year or any subsequent year of assessment.”.