11. Section 29 of the principal enactment as last amended by Act. No. 19 of 2003 is hereby further amended as follows
| (1) in subsection (2) of that section, by the insertion immediately after paragraph id) thereof of the following paragraph :"
| | "(e) For any year of assessment commencing on or after April 1,2003 the amount of a loss (other than any brought forward loss incurred by him from any period prior to April 1, 2003 which is deductible under this section) in any trade, business, profession or vocation shall be deducted as follows :-
| | | (i) any loss from a trade or business to be deducted only from the statutory income from trade and business ; |
| (ii) any loss from a profession to be deducted only from the statutory income from profession; |
| (iii) any loss from a vocation to be deducted only from the statutory income from vocation. |
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| (2) by the insertion immediately after subsection (1B) of that section of the following new subsection :"
| | "(1c") The assessable income of any person shall not include"
| | | (a) any reward received by such person as an informer under any scheme for the payment of such rewards ; or |
| (b) a share of fine received by such person under any scheme for the distribution of such share of fine, |
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| (3) in subsection (2) of that section by the substitution for the words "within such period of six years or eleven years as the case may be ", of the following :" |
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| (4) in paragraph (a) of subsection (3) of that section, by the substitution for the words and figures ;'or section 20 of this Act", of the words and figures "or section 20 or section 21A or section 21B or section 21c or section 21D or section 21E or section 21F or section 21G or section 21H of this Act.''. |
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Sri Lanka Consolidated Acts