60.
| (1) An Assessor may give notice in writing to a receiver or trustee requiring him to furnish within the period specified in the notice-
| | (a) in the case of a receiver-
| | | (i) a return for the purposes of income tax, of the income from the properties under his control, |
| (ii) a return for the purposes of wealth tax, of such properties and, where any properties have been distributed by him among any persons, a description of the properties distributed and the names and addresses of those persons; |
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| | (b) in the case of a trustee -
| | | (i) a return for the purposes of income tax, of the income from the properties subject to the trust; |
| (ii) a return for the purposes of wealth tax, of such properties and the names and addresses of the beneficiaries under the trust and the benefits to which they are entitled under 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 en- titled 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 sub section (2) to be the income of a beneficiary or the entirety or any part of a property subject to a trust is, under the provisions of paragraph (c) or paragraph (d) of subsection (1) of section 44, included in the wealth of a beneficiary under the trust, 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 or wealth. |
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| (4) The income tax and wealth 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 97, notwithstanding that no assessment has been made on him. |
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Sri Lanka Consolidated Acts