17. The following new Chapter is hereby inserted immediately after Chapter XVB and shall have effect as Chapter XVC of the principal enactment:
| 113M.
| | (1) Notwithstanding anything contained in section 2 and in Chapters XIV and XV, the income tax attributable to the official emoluments of any employee of any specified employer for any year of assessment commencing on or after April 1, 1993 shall be paid by such employer in addition to any income tax otherwise payable by such employer. | | |
| | (2) The income tax payable by any specified employer under subsection (1), shall be payable in monthly instalments and accordingly, the provisions of section 98, section 99, section 102, section 105, section 106, section 107, section 110, and section 112, shall apply to such income tax payable by such employer subject to the modification that the word "deduct ' appearing in the above mentioned sections shall be substituted by the word "pay" and the word "remuneration " by the word " official emoluments " | | |
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| 113N. Notwithstanding anything contained in section 27, the total statutory income for any year of assessment commencing on or after April 1, 1993 of any employee of any specified employer shall be the aggregate of his statutory income for that year of assessment from every source of (his profits and income, other than employment in respect of which tax is payable by the employer under subsection (1) of section 113M. |
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| 113P. Notwithstanding anything contained in any other provision of this Act, no deduction for the purpose of section 30 (2) shall be made, from the assessable income of any employee of any specified employer for any year of assessment commencing on or after April 1, 1993, in respect of any qualifying payment referred to in paragraph (i) of subsection (2) of section 31 and made in that year of assessment by such employee. |
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| 113Q. Notwithstanding anything contained in any other provision of this Act, the income tax for any year of assessment, payable by any specified employer in accordance with section 113M shall be allowed as a deduction in ascertaining the profits and income for that year of assessment of any trade or business carried on by such employer. |
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| 113R. For the purposes of this Chapter, the income tax attributable to the official emoluments in relation to any employee of any specified employer shall be the excess of
| | (i) the income tax computed at the rates specified in Part IIE of the First Schedule to this Act on such emoluments of such employee after deducting therefrom a sum of forty-two thousand rupees, over ; | | |
| | (ii) one thousand eight hundred rupees. | | |
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| 113S. Notwithstanding anything contained in section 4, the income tax in respect of the official emoluments of any employee of any specified employer and which is paid by such employer shall be deemed, not to form part of the profits from employment of such employee. |
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Sri Lanka Consolidated Acts