70.
| (1) An Assessor may give notice in writing to a receiver or trustee requiring him to furnish within the period specified in the notice, in the case of a -
| | (a) receiver, a return for the purposes of income tax, of the income from the properties under his control; | | |
| | (b) trustee, a return for the purposes of income tax, of the income from the properties subject to the trust, and a receiver or trustee shall be chargeable with income tax, in the case of a-
| | | (i) receiver, on the income of the properties subject to his control; and |
| (ii) trustee, subject to the provisions of subsection (2), on the income of the properties of the trust. |
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| (2)Where there are any beneficiaries to a trust the income of which is liable to income tax under subsection (1), then the share of the income to which such beneficiaries are entitled shall be deducted from the amount of the income which is liable to tax under subsection (1), and shall be considered for the purposes of this Act, as the income of such beneficiaries and accordingly each such beneficiary shall be chargeable with income tax in respect of his share of such income. |
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| (3)Where, for any year of assessment, the entirety or any part of the income of a trust is considered under subsection (2), to be the income of a beneficiary the trustee shall, on or before the thirtieth day respectively of July, October and January of that year of assessment and on or before the thirtieth day of April of the immediately succeeding year of assessment, give to that beneficiary in such form as may be specified by the Commissioner-General, a notice stating the amount of such income. |
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| (4) The income tax with which a receiver or a trustee is chargeable for any year of assessment shall be paid by him in accordance with the provisions of section 114, notwithstanding that no assessment has been made on him. |
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| (5) For the purpose of this section, the term "trust" shall not include any unit trust, and the term "trustee" shall not include any trustee of any unit trust. |
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Sri Lanka Consolidated Acts