18. Amendment of section 31 of the principal enactment

Official English translation. The Sinhala text prevails.

Section 31 of the principal enactment as, last amended by Act, No. 12 of 2004, is hereby further amended as follows :—

(1)

in the proviso to subsection (2) of that section by the substitution for the words and figurers “otherwise than in money, made on or after April 1, 2004 as in excess of two million rupees”, of the words and figures “otherwise than in money, made on or after

April 1, 2004, but prior to January 1, 2005, as in excess of two million rupees” ;

(2)

in paragraph (a) of subsection (4) of that section :—

(a)

by the substitution for sub-paragraph (i) of that paragraph, of the following sub-paragraph :—

“(i)

in respect of all qualifying payments other than those referred to in —

(a)

paragraphs (b), (c), (g), (h), (i), (j)

and (k) of subsection (2) made by him or deemed to have been made by him in any year of assessment ending on or before March 31,

2004 ; and

(b)

paragraphs (a), (b), (c), (e), (g), (h), (i), (j) and (k) of subsection (2) made by him or deemed to have been made by him in any year of assessment commencing on or after

April 1, 2004, shall not exceed one third of such assessable income or twenty five thousand rupees, whichever is less ;” ;

(b)

by the substitution in sub-paragraph (iii) of that paragraph for the words and figures

“paragraph (g) of subsection (2), made by him”, of the words and figures “paragraph (g) of subsection (2), made by him prior to March 1,

2004” ; and

(c)

by the substitution for sub-paragraph (v) of that paragraph, of the following sub paragraph :—

“(v)

in respect of the aggregate of all qualifying payments made —

(a)

on or before March 31, 2004 and referred to in paragraphs (a), (c), (d), (e) and (f) of subsection (2), shall not exceed twenty five thousand rupees ; and

(b)

on or after April 1, 2004 and referred to in paragraphs (a), (e) and (g) of subsection (2), shall not exceed seventy five thousand rupees or one-third of such assessable income,”

(3)

in subsection (6A), by the substitution for the words and figure “in paragraphs (i) or (j) of subsection (2)”, of the words and figures “in paragraph (i) of subsection(2)”. and

Read on from s 19