Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Companies Tax Act (No. 35 of 1961) - Sect 7

Set-off against the tax under this Act in certain circumstances. [ 20, 10 of 1962.]

6. Where the aggregate of-
(a) the tax to which a company is liable under this Act for any financial year, and
(b) the income tax to which that company is liable for the year of assessment corresponding to that financial year,
exceeds eighty per centum of the assessable income of that company for that year of assessment, such excess shall be set off against the tax to which that company is liable under this Act for that financial year.

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]