| 1.
| | This Act may be cited as the Inland Revenue Act (No. 28 of 1979). |
| 2.
| | Imposition of income tax. |
| 3.
| | Income chargeable with tax. |
| 4.
| | Profits from employment. |
| 5.
| | Net annual value of land and improvements thereon. |
| 6.
| | Profits or income arising rents of land and improvements thereon. |
| 7.
| | Capital gains. |
| 8.
| | Exemption from income tax of certain persons (other than individuals) on the whole or any part of their profits and income. |
| 9.
| | Exemption from income tax of certain profit and income of certain officers and employees. |
| 10.
| | Exemption from income tax of certain interest received. |
| 11.
| | Exemption from income tax of certain dividends. |
| 12.
| | Exemption from income tax of certain profits and income from lands and improvements thereon. |
| 13.
| | Exemption from income tax of certain subsidies. |
| 14.
| | Exemption from income tax of certain capital gains. |
| 15.
| | Miscellaneous exemptions from income tax. |
| 16.
| | Exemption from income tax of profits and income of certain undertakings related to tourist hotels. |
| 16A.
| | Exemption from income tax of profits and income of certain undertakings related to tourist hotels incorporated after November 15, 1979. [ 10. 24 of 1980.] |
| 16B.
| | Exemption from income tax of profits and income of certain undertakings related to tourist hotels which construct additional rooms after November 15, 1979. [ 10,24 of 1980.] |
| 17.
| | Exemption from income tax of profits and income of certain companies engaged in fishing, animal husbandry, sericulture and agriculture. |
| 18.
| | Exemption from income tax for profits and income of certain small scale undertakings for the production or manufacture of commodities. |
| 19.
| | Exemption from income tax for profits and income of certain undertakings for the milling of paddy. |
| 20.
| | Exemption from income tax for the export profits and income of certain undertakings. |
| 21.
| | Exemption from income tax for profits from the construction |
| 22.
| | Exemption from income tax of profits and income of certain non-resident contractors. |
| 22A.
| | Exemption from income tax of profits and income arising from the performance of certain contracts. [11, 24 of 1980.] |
| 22B.
| | Exemption from income tax of profits and income of undertakings engaged in property development. [ 11, 24 of 1980.] |
| 22C.
| | Exemption from income tax of profits and income of undertakings carried on by quoted public companies. [11,24 of 1980.] |
| 23.
| | Deductions allowed in ascertaining profits and income. |
| 24.
| | Deductions not allowed in ascertaining profits and income. |
| 25.
| | Basis for computing statutory income. |
| 26.
| | Apportionment of profits. |
| 27.
| | Total statutory income. |
| 28.
| | Aggregation of the total statutory income of a child with that of his parent. |
| 29.
| | Deductions from total statutory income in arriving at assessable income. |
| 30.
| | Taxable income. |
| 31.
| | An allowance in respect of qualifying payments. |
| 32.
| | Rates of income tax on persons other than companies. [ 17, 24 of 1980.] |
| 33.
| | Income tax to which resident companies are liable [ 18,24 of 1980.] |
| 34.
| | income tax to which non-resident companies are liable.[ 19,24 of 1980.] |
| 35.
| | Certain dividends not to form part of the assessable income of the receiving company. |
| 36.
| | Profits of a company from transactions with its shareholders, |
| 37.
| | Resident company to deduct tax at five per centum On dividends payable to a non-resident company. |
| 38.
| | Resident company entitled to deduct tax from any dividend. [ 22, 24 of 1980.] |
| 39.
| | Certain undistributed profits to be seated as distributed. |
| 40.
| | Provisions applicable where the profits and income of a company are appropriated by the director, etc., of that company. |
| 41.
| | Charge to wealth tax. |
| 42.
| | Persons to whom this Chapter shall not apply. |
| 43.
| | Definition of wealth. |
| 44.
| | Wealth to include certain property. |
| 45.
| | Certain property to be excluded from wealth. |
| 46.
| | Aggregation of the wealth of a child with that of his parent. |
| 47.
| | Net wealth. |
| 48.
| | Taxable wealth |
| 49.
| | Value of property which constitutes wealth. [ 23, 24 of 1980.] |
| 50.
| | Wealth tax payable not to exceed a certain amount, |
| 51.
| | Charge of the gifts tax |
| 52.
| | Meaning of gift. |
| 53.
| | Gifts to include certain transfers. |
| 54.
| | Gifts not to include certain transfers. |
| 55.
| | Taxable gifts and the computation of the gifts tax payable. |
| 56.
| | Determination of value of gifts. |
| 57.
| | Deduction of stamp duty from gifts tax payable. |
| 58.
| | Donee liable to pay gifts tax in certain circumstances. |
| 59.
| | Assessment of child's income and wealth. |
| 60.
| | Returns to be furnished by receivers and trustees and their liability to tax. |
| 61.
| | Chargeability to tax of trustee of an incapacitated person. |
| 62.
| | Liability of executor to tax payable by deceased person. |
| 63.
| | Return to be furnished by executors and chargeability of executors and beneficiaries. |
| 64.
| | Joint trustees and executors. |
| 65.
| | Assessment of partnership income. |
| 66.
| | Assessment to be made in the name of the partnership in certain circumstances. |
| 67.
| | What constitutes residence. |
| 68.
| | Persons assessable on behalf of a non-resident person. |
| 69.
| | Liability of certain nonresident persons. |
| 70.
| | Profits of certain businesses to be computed on a percentage of the turnover. |
| 71.
| | Profits of non-resident persons from sale of exported produce. |
| 72.
| | Liability to income tax of certain profits of non-resident persons. |
| 73.
| | Exemption of income of non-resident persons in certain cases and liability of certain non-resident persons to income tax at reduced rates. |
| 74.
| | Profits of non-resident ship-owners or characters. |
| 75.
| | Master of ship to be an agent. |
| 76.
| | Refusal of clearance for ship where income tax is in arrear. |
| 77.
| | Profits of non- resident owners or charterers of aircraft. |
| 78.
| | Applications of Sections 74 (2). 75 and 76, to profits of non-resident owners or charterers of aircraft. |
| 79.
| | Ascertainment of profits of insurance companies. |
| 80.
| | Ascertainment of profits of the lnsurance Corporation of Ceylon from the business of life insurance. |
| 81.
| | Deduction of income tax from interest, &c., payable to persons outside Sri Lanka . |
| 82.
| | Effect of agreements for double taxation relief. |
| 83.
| | Relief in respect of Commonwealth income tax. |
| 84.
| | Relief in respect of Sri Lanka wealth tax. |
| 85.
| | Relief from income tax in respect of certain profits and income of companies related to tourist hotels. |
| 86.
| | Reduction of wealth tax when the total of income tax and wealth tax exceeds certain limits |
| 87.
| | Applicability of provisions relating to particular sources of profits or income. |
| 88.
| | Income from certain dividends to include tax thereon. |
| 89.
| | How certain receipts of insurance are to be treated, [ 28, 24 of 1980.] |
| 90.
| | Ascertainment of income of clubs, trade associations, &c. |
| 91.
| | Certain transactions and dispositions to be disregarded, |
| 92.
| | Returns and information to be furnished. |
| 93.
| | Returns to be furnished of income received on account of, or paid to, other persons. |
| 94.
| | Occupiers to furnish returns of rent payable. |
| 95.
| | Return of lodgers and inmates. |
| 96.
| | Power of Commissioner-General to impose penalty for failure to furnish return. |
| 97.
| | Payment of tax by self-assessment. |
| 98.
| | Employers to deduct income tax. |
| 99.
| | Employers to give notice to Commissioner-General. |
| 100.
| | Application of income tax tables. |
| 101.
| | Directions to employers |
| 102.
| | Employers to maintain proper records. |
| 103.
| | Duties of employers following deductions of income tax. |
| 104.
| | Adjustments of amount Of income tax not paid or paid in excess. |
| 105.
| | Employee to give notice when necessary deductions are not made. |
| 106.
| | Income tax deducted not to form part of assets of employers. |
| 107.
| | Default in the deduction or payment of income tax. |
| 108.
| | Issue of assessments on employers. |
| 109.
| | Appeals. |
| 100.
| | Penalty for default. |
| 111.
| | Credit for tax Paid |
| 112.
| | Compliance with the provision of this chapter relating to forms, |
| 113.
| | interpretation. |
| 114.
| | Retention of 15 per centum of moneys lying to the credit of a contributor to a specified provident fund to meet any tax payable. |
| 115.
| | Assessments and additional assessments. |
| 116.
| | Notice of assessment. |
| 117.
| | Appeals to the Commissioner-General. |
| 118.
| | Constitution of the Board of Review. |
| 119.
| | Appeals to the Board of Review. |
| 120.
| | Commissioner-General may refer appeals to the Board of Review. |
| 121.
| | Hearing and determination of appeals by the Board of Review. |
| 122.
| | Appeal on a question of law to the Court of Appeal. |
| 123.
| | Assessments or amended assessments to be final. |
| 124.
| | Penalty for incorrect return. |
| 125.
| | Tax in default and sums added thereto. |
| 126.
| | Tax to include fines, &c. |
| 127.
| | Tax to be a first charge. |
| 128.
| | Notice to defaulter. |
| 129.
| | Recovery of tax by seizure of sale. |
| 130.
| | Proceedings for recovery before a Magistrate. |
| 131.
| | Recovery of tax out of debts. &c. |
| 131A.
| | Transfer of immovable property to Government in lieu of payment of tax in cash. [31, 24 of 1980.] |
| 132.
| | Tax in default to be recovered from remuneration of employee. |
| 133.
| | Tax in default of a partner to be recovered from the assets of a partnership. |
| 134.
| | Recovery of income tax or wealth tax from the income or wealth of a child. |
| 135.
| | Recovery of income tax and wealth tax payable by a beneficiary from the trustee |
| 136.
| | Recovery of income tax and wealth tax payable by a beneficiary from the |
| 137.
| | Gifts tax to be recovered from the donee in certain circumstances. |
| 138.
| | Recovery of tax from persons leaving Sri Lanka |
| 139.
| | Use of more than one means of recovery. |
| 140.
| | Power of Commissioner-General to obtain information for the recovery of tax. |
| 141.
| | Liability of directors of private company in liquidation. |
| 142.
| | Delegation of Commissioner-General's powers and functions. |
| 143.
| | Signature and service of notices. |
| 144.
| | Validity of notices, assessments, &c. |
| 145.
| | Precedent partner to act on behalf of a partnership. |
| 146.
| | Principal officer to act on behalf of company or body of persons. |
| 147.
| | Who may act for incapacitated or non-resident person. |
| 148.
| | Indemnification of representative |
| 149.
| | Tax paid in excess to be refunded. |
| 150.
| | Interest payable on the amount of a refund in certain circumstances, |
| 151.
| | Penalties for failure to make returns, making incorrect returns, &c. |
| 152.
| | Breach of secrecy and other matters to be offences. |
| 153.
| | Penal provisions relating to fraud, &c. |
| 154.
| | Tax to be payable notwithstanding any prosecution or conviction for an offence under this Act. |
| 155.
| | Prosecutions to be with the sanction of the Commissioner- General. |
| 156.
| | Admissibility of statements and documents in evidence. |
| 157.
| | Officers. |
| 158.
| | Official secrecy. |
| 159.
| | Regulations. |
| 160.
| | Forms. |
| 161.
| | Power to search buildings or places. |
| 162.
| | Special provisions relating to income tax payable for the year of assessment commencing on April 1, 1979. |
| 163.
| | Interpretation. |
| 164.
| | Application of the Inland Revenue Act, No. 4 of 1963. |
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