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As enacted
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6. Amendment of section 11 of the principal enactment

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

Section 11 of the principal to enactment is hereby amended by the repeal of subsection (2) of that section, and the substitution therefor of the following subsection:—

“(2) There shall be exempt from income tax—

(a)

income accruing to the owner of any house from such house, the construction of which is completed prior to April 1, 2008, being

Act, No. 9 of 2008

income for that year of assessment in which such construction was completed and for the four years of assessment immediately succeeding that year of assessment, if such house is used solely for residential purposes:

Provided that where the floor area of the house is one thousand and five hundred square feet or less, the income accruing to the owner shall be exempt from income tax for the year of assessment in which the construction of that house is completed and for the six years of assessment immediately succeeding that year of assessment; and

(b)

income accruing to the owner of any house from such house, the floor area of which is five hundred square feet or less and the construction of which is completed on or after

April 1, 2008, being income for that year of assessment in which the construction was completed and for the four years of assessment immediately succeeding that year of assessment, if such house is used solely for residential purposes.”.

Read on from s 7