30.
| (1) The taxable income of an individual or a charitable institution who or which is resident in Sri Lanka in any year of assessment shall be the assessable income of that individual or that institution for that year of assessment after deducting therefrom the aggregate of-
| | (a) an allowance of one hundred and forty four thousand rupees : and | | |
| | (b) any allowance to which such individual or institution is entitled under section 31 : | | |
|
|
| (2) The taxable income of any person (other than any resident individual or any charitable institution) for any year of assessment, shall be the assessable income for that year of assessment of that individual or institution after deducting therefrom any allowance to which he or such institution is entitled under section 31. |
|
|
Sri Lanka Consolidated Acts