Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsDuties of bank and financial institution following deductions of income tax
| 125 . Every bank or financial institution which required to deduct income tax from the interest paid by it in any year of assessment to any person chargeable with income tax with income tax under this Act, shall deduct such income tax at the time when such interest is paid to such person in accordance with any agreement entered into between such bank or financial institutions and such person with respect to such payment and shall remit the amount to deducted to the Commissioner -General before the fifteenth day of the month following the month in which the deduction was made and at the same time furnish to the Commissioner - General declaration in such from and in such manner as may he specified by the Commissioner-General. |