Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsAmount of the National Development Tax paid by an employee shall be allowed as a deduction for the purposes of the levy of income tax. [ 8, 3 of 1963.]
| 38. Where any employee subject to the National Development Tax is liable to income tax under the Income Tax Ordinance for the year of assessment commencing on April 1, 1962, and to income tax under the Inland Revenue Act, 1963, for the succeeding year of assessment, then for the purpose of ascertaining the profits or income of that employee under that Ordinance or Act for each of the aforesaid years of assessment the amount of the National Development Tax levied from that employee in respect of the year preceding any such year of assessment shall be allowed as a deduction. |