35. Amendment of section 133 of the principal enactment

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

Section 133 of the principal enactment as last amended by Act, No. 19 of 2009, is hereby further amended in subsection (4) of that section as follows :-

(1)

by the substitution for paragraph (a) of that subsection, of the following new paragraph:—

“(a) (i) any company other than any charitable institution, the deduction shall be made at the rate of ten per centum of such interest;

and

(ii)

any partnership or body of persons other than any charitable institution, the deduction shall be made at the rate of eight per centum of such interest;”;

(2)

in paragraph (b) of that subsection -

(a)

in sub-paragraph (i) thereof, by the substitution for the words and figures “not exceed 300,000 rupees”, of the words and figures “not exceed 500,000 rupees”; and

(b)

by the substitution for sub-paragraph (ii)

thereof, of the following sub-paragraph:-

“(ii) exceeds 500,000 rupees, deduction shall be made from the interest payable to charitable institutions at the rate of eight per centum of such interest for that year of assessment;”;

(3)

in paragraph (c) of that subsection -

(a)

in sub-paragraph (i) thereof, by the substitution for the words and figures “not exceed 300,000 rupees”, of the words and figures “not exceed 500,000 rupees”;

(b)

in sub-paragraph (ii) thereof, by the substitution for the words and figures

“exceeds 300,000 rupees but does not exceed 1,000,000 rupees,” , of the words and figures “exceeds 500,000 rupees but does not exceed 1,500,000 rupees,”; and

(c)

in sub-paragraph (iii) thereof, by the substitution for the words and figures

“exceeds 1,000,000 rupees” and “at the rate of ten per centum”, respectively, of the words and figures “exceeds 1,500,000

rupees” and “at the rate of eight per centum”, respectively; and

(4)

in paragraph (d) of that section, by the substitution for the words “ten per centum of such interest:”, of the words “eight per centum of such interest:”.

Read on from s 36