10. Section 31 of the principal enactment is hereby amended as follows :-
| (1) In paragraph (b) of subsection (5) of that section, by the substitution for the words and figures any year of assessment commencing on or after April 1, 1979, ",of the words and figures" any year of assessment commencing on or after April 1, 1979 but prior to April 1, 1996, "; |
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| (2) in subsection (5D) of that section by the substitution, For the words and figures " for any year of assessment commencing on or after April 1,1990 ", of the words and figures " for any year of assessment commencing an or after April 1,1990, but prior to April 1,1996"; and |
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| (3) by the insertion, immediately after subsection (5D), of the following subsection :-
| | "(5E) the deduction from the assessable income of-
| | | (a) any person, other than a company, for any year of assessment commencing on or after April 1, 1996-
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| (b) any company for any year of commencing on or after April 1, 1996 in respect of all qualifying payments other than those referred to it Paragraph (b), (c), (m) and (n) of subsection (3) made by that company of referred to have been made by that company, in that year of assessment shall not exceed one-fifth of such assessable income.". |
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Sri Lanka Consolidated Acts