10. Section 24 of the principal enactment is hereby amended as follows : -
| (1) in subsection (1) of that section, by the insertion, immediately after paragraph (n), of the following paragraphs : -
| | "(o) one-half of the excess of any expenditure incurred by such person for any year of assessment commencing on or after April 1, 1984, in providing any place of residence to an employee of such person or to the spouse, child or parent of such employee over the rental value of such place of residence which is included in the profits from employment of such employee within the meaning of section 4 ; | | |
| | (p) such part of the rental paid by him under any agreement entered into by him on or after January 1, 1984, in any year in respect of any vehicle, plant, machinery, fixtures or equipment which is in excess of an amount equal to one-fourth of the total rental payable under such agreement."; and | | |
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| (2) by the repeal of subsection (2) of that section and the substitution, of the following new subsection therefor : -
| | "(2) No person carrying on any trade or business or exercising any profession or vocation shall be entitled to any sum for depreciation by wear and tear, or for renewal, or to any allowance under section 23 (1) (a) or 23 (1) (e) or 23 (1) (f) -
| | | (a) for any year of assessment, in respect of any vehicle used for traveling for the purpose of his trade, business, profession or vocation, except in respect of
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| (b) for any year of assessment commencing on or after April 1, 1984, in respect of any plant, machinery, fixtures, equipment, or articles provided for the use of any officer or employee of such person in the place of residence of such officer or employee, |
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Sri Lanka Consolidated Acts