6.
| (1) Where any person is the head of a family, the capital of each individual who is a member of that family shall, for the purposes of this Act, be deemed to form part of the capital of the head of that family and accordingly the values of the net capital of all such members shall be aggregated with the net capital of the head of that family and where the aggregated net capital of the head of that family-
such part of the aggregated net capital of the head of that family as exceeds two hundred and fifty thousand rupees or two hundred thousand rupees, as the case may be, shall be the leviable capital of the head of that family and the head of that family shall be liable to the capital levy in respect of such leviable capital. | | (a) includes any premises occupied wholly or mainly for residential purposes on March 31, 1971, and is in excess of two hundred and fifty thousand rupees, or | | |
| | (b) does not include any such premises and is in excess of two hundred thousand rupees, | | |
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| (2) Where the debts of an individual included in a family exceeds his capital, then the excess shall be set off against the aggregated net capital of the head of that family. |
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Sri Lanka Consolidated Acts