8. The following section is hereby inserted immediately after section 22DDD in the principal enactment, and shall have effect as section 22DDDD of the enactment"
| 22DDDD.
| | (1) The profits and income (other than any profits and income from the sale of any capital asset in respect of which an allowance for depreciation within the meaning of section 23, has been granted) of any unit trust or, mutual fund referred to in subsection (2), shall be exempt from income tax for a period of five years reckoned from, the commencement of the year of assessment in which such unit trust or, mutual fund commenced to carry on business. | | |
| | (2) The provisions of subsection (1) shall apply to any unit trust or, mutual fund approved by the Minister by notice published in the Gazette on or before April 1, 1992, as a unit trust or, mutual fund to which this section applies.". | | |
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Sri Lanka Consolidated Acts