Sri Lanka Consolidated Acts

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Inland Revenue Act (No. 4 of 1963) - Sect 111

Reduction of the tax in certain circumstances

105. Where the aggregate of-
(a) wealth tax to which a person is liable for any year of assessment, and
(b) the income tax to which such person is liable for that year of assessment,
exceeds eighty per centum of the assessable income of that person for that year of assessment, such excess shall be set off against the wealth tax to which he is liable.

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