නිල පරිවර්තනයවෙනස් නොකළ පාඨය, Department of Government Printing වෙතින්
(1)
A person’s income from a business for a year of assessment shall be the person’s gains and profits from conducting the business for the year.
(2)
In calculating a person’s gains and profits from conducting a business for a year of assessment the following amounts derived by the person during the year of assessment from the business shall be included–
(a)
service fees;
(b)
consideration received in respect of trading stock;
(c)
gains from the realisation of capital assets and liabilities of the business as calculated under
Chapter IV;
(d)
amounts required to be included by the Second or
Fourth Schedule to this Act on the realisation of the person’s depreciable assets of the business;
(e)
amounts derived as consideration for accepting a restriction on the capacity to conduct the business;
(f)
gifts received by the person in respect of the business;
(g)
amounts derived that are effectively connected with the business and that would otherwise be included in calculating the person’s income from an investment; and
(h)
other amounts required to be included under this
Act.
(3)
In calculating a person’s gains and profits from conducting a business for a year of assessment the following shall be excluded:-
(a)
exempt amounts and final withholding payments;
and
(b)
amounts that are included in calculating the person’s income from an employment.