95.
| (1)Where any person or partnership in Sri Lanka pays or credits to any person or partnership out of Sri Lanka, any sum falling due as -
| | (a) interest on debentures, mortgages, loans, deposits or advances; or | | |
| | (b) rent, ground rent, royalty or annuity which is payable either in respect of property in Sri Lanka or out of income arising in Sri Lanka, | | |
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| (2)Any person who deducts income tax in accordance with the provisions of subsection (1) from any sum paid or credited to a person or partnership out of Sri Lanka, shall issue to such person or partnership a statement in writing showing-
| | (a) the gross amount of such payment or credit; | | |
| | (b) the rate and amount of the tax so deducted; | | |
| | (c) the net amount actually paid or credited. | | |
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| (3) Where the assessable income of a person includes a sum from which income tax has been deducted in accordance with subsection (1), he shall be entitled on production of statement relating to such sum issued in accordance with subsection (2), to a set-off against the tax payable by him, of the amount shown on such statement as the amount of tax deducted. |
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Sri Lanka Consolidated Acts