35.
| (1) Subject as hereinafter provided, income tax shall be charged for each year of assessment on the taxable income for that year of assessment of any person -
| | (a) if he is an individual other than a receiver, trustee, executor or liquidator acting in such capacity in respect of any year of assessment, at the appropriate rates specified in Part I of the First Schedule to this Act; | | |
| | (b) if he is an individual who is not a citizen of Sri Lanka and is deemed by subsection (7) of section 79, to be non-resident, at the rate specified in Part II of the First Schedule to this Act; or | | |
| | (c) if such person is a person other than a company or an individual to whom paragraph (a) applies, in respect of any year of assessment at the appropriate rates specified in the Third Schedule to this Act: | | |
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| (2) Where in consequence of the inclusion in the statutory income of an individual for any year of assessment of -
| | (a) a sum received in commutation of a pension; | | |
| | (b) a sum received as a retiring gratuity other than such part of such sum as exceeds -
| | | (i) one million eight hundred thousand rupees; or |
| (ii) a sum equivalent to the average monthly salary or wage paid to such individual during the period of three years immediately preceding his retirement from any employment under the employer who pays such gratuity, multiplied by the number of completed years of service, |
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| | (c) any sum received as compensation for loss of office or employment; | | |
| | (d) a sum paid to him, at the time of his retirement from any employment, or at any subsequent time, from a provident fund approved by the Commissioner-General other than such part of that sum as represents his contributions to that provident fund; | | |
| | (e) any sum paid from a regulated provident fund to an employee (other than such part of that sum as represents the contributions made by the employer to that fund prior to April 1, 1968, and the interest which accrued on such contributions made by the employer, if in respect of such contributions made by the employer and the interest which accrued on such contributions made by the employer, tax at the rate of fifteen per centum has been paid by the employer); or | | |
| | (f) any sum paid to him at the time of his retirement from any employment or at any subsequent time, from the Employees' Trust Fund, established by the Employees' Trust Fund Act, No.46 of 1980, | | |
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| (3) Where any charitable institution provides in any year of assessment institutionalised care for the sick or the needy and where the Commissioner-General is satisfied that the cost of provision of such care is borne by such charitable institution, the Commissioner-General may, subject to such condition as he may specify, reduce or remit the tax payable by such charitable institution in respect of its profits and income for such year of assessment, if it appears to the Commissioner-General that such reduction or remission is just and equitable in all the circumstances of the case. |
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| (4) Where a fund or society has been set up or formed for the welfare of the members of the Sri Lanka Army, Sri Lanka Navy, Sri Lanka Air Force or the Sri Lanka Police Force and their respective families, the Commissioner-General may, subject to such conditions as he may specify, reduce or remit the tax payable by such fund or society, as the case may be, if it appears to the Commissioner-General that such reduction or remission is just and equitable in all the circumstances of the case. |
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Sri Lanka Consolidated Acts