3.
| (1) The amount of any Service Charge paid by any person or partnership for any relevant year of assessment may be deducted from the relevant income tax payable by that person or partnership for that relevant year of assessment (hereinafter referred to as the "first mentioned relevant year of assessment"). |
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| (2) The balance, if any , of such service charge after its deduction in accordance with subsection (1) shall be deducted from the relevant income tax payable by such person or partnership for the relevant year of assessment immediately succeeding the first mentioned relevant year of assessment (hereinafter referred to as the " first succeeding relevant year of assessment"). |
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| (3) The residue if any of the balance, of such service charge after its deduction in accordance with subsection (2) shall be deducted from the relevant income tax payable for the relevant year of assessment immediately succeeding the first succeeding relevant year of assessment (hereinafter referred to as the "second succeeding relevant year of assessment"). |
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| (4) In no circumstances shall"
| | (a) the aggregate deduction exceed the amount of such Service Charge ; and | | |
| | (b) the remaining portion, if any of the residue referred to in subsection (3) after its deduction in accordance with subsection (3); be deducted from any income tax payable for any relevant year of assessment succeeding the second succeeding relevant year of assessment. | | |
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| (5) For the purposes of this section and in relation to any person or partnership and to any relevant year of assessment, the expression" |
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Sri Lanka Consolidated Acts