Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsSale of houses with excess appurtenant lands
| 4. Where any sale referred to in section 2 relates to a house which together with the land appurtenant thereto occupies an extent which exceeds ten perches in municipal or urban areas and twenty perches in areas other than municipal or urban areas, the profits and income which in the opinion of the Commissioner of Inland Revenue arises from the sale of such part of the appurtenant land as exceeds ten perches or twenty perches, as the case may be, shall be disregarded for the purposes of the exemption from income tax granted under section 2: Provided, however, that where any sale referred to in section 2 relates to a flat and the land appurtenant thereto in accordance with the provisions of section 9 (1) of the Apartment Ownership Law, No. 11 of 1973, exceeds five perches in municipal or urban areas and ten perches in areas other than municipal or urban areas, the profits and income which in the opinion of the Commissioner of Inland Revenue arises from the sale of such part of the appurtenant land, as exceeds five perches or ten perches, as the case may be, shall be disregarded for the purposes of the exemption from income tax granted under section 2. |