Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsDuties of bank and financial institution following deductions of income tax
| 140. Every bank or financial institution which is required to deduct income tax from the interest paid by it in any year of assessment to any person chargeable with income tax under this Act, shall deduct such income tax at the time when such interest is paid to such person in accordance with any agreement entered into between such bank or financial institution and such person with respect to such payment, and shall remit the amount so deducted to the Commissioner-General before the fifteenth day of the month following the month in which the deduction was made, and at the same time furnish to the Commissioner-General a declaration in such form and in such manner as may be specified by the Commissioner-General. |