17. Amendment of section 33 of the principal enactment

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

Section 33 of the principal enactment is hereby amended in subsection (1) of that section, as follows:-

(1)

by the substitution in paragraph (a) of that subsection for the words “an allowance of three hundred thousand rupees; and”, of the following words and figures:-

“an allowance of-

(i)

three hundred thousand rupees in respect of any year of assessment commencing prior to

April 1, 2011; and

(ii)

five hundred thousand rupees in respect of any year of assessment commencing on or after April 1, 2011, and”;

(2)

by the substitution in the proviso to that subsection, for the words ‘as such trustee, receiver, executor or liquidator.”, of the following words and figures :-

“as such trustee, receiver, executor or liquidator:”

Provided further, that for any year of assessment commencing on or after April 1, 2011—

(i)

any individual being a citizen of Sri Lanka irrespective of whether such individual is resident in Sri Lanka or not, shall be entitled to deduct the allowance referred to in paragraph (a); and

(ii)

an individual shall not be entitled to deduct any part of any allowance under section 34

from any employment income which is included in such assessable income.”.

Read on from s 18