45. The following new section is inserted immediately after section 130B of the principal enactment, and shall have effect as section 130C of that enactment :"
| 130C.
| | (1) Any bank or financial institution which is liable to deduct income tax from interest paid by such bank or financial institution under this Chapter on or after January 1, 2004. shall apply for and obtain a registration number from the Commissioner-General thirty days prior to the commencement of such deduction of tax, and shall furnish a return to the Commissioner-General on a monthly basis containing such particulars as may be specified by the Commissioner-General in relation to such deductions : | | |
| | (2) Any bank or financial institution which does not so register or does not furnish any return shall be liable to a penalty not exceeding rupees fifty thousand which may be imposed by the Commissioner-General. | | |
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Sri Lanka Consolidated Acts