13.
| (1) Where a person has commenced to carry on or exercise a profession or vocation or an employment in Ceylon on or after April 1, 1951, and before April 1, 1958, and if he has not made a claim for a set-off or refund within the time allowed in paragraph (a) of subsection (1) of section 13a of the Income Tax Ordinance, then he shall be entitled-
| | (a) if he ceases to carry on or exercise that profession, vocation or employment in the year of assessment commencing on April 1, 1963, to a refund or set-off against the tax of seventy-five per centum of the excess, if any, of the tax assessed in respect of him in the year preceding the year of assessment in which he ceases to carry on or exercise that profession, vocation or employment and the two next succeeding years of assessment over the tax that would have been assessed in respect of him for those three years as if subsection (1) or subsection (2) of section 13 of the Income Tax Ordinance did not apply and subsection (6) of that section applied in respect of that profession, vocation or employment as though the expression " in any year of assessment commencing before April 1, 1958 " occurring in the aforesaid subsection (6) were omitted; | | |
| | (b) if he ceases to carry on or exercise that profession, vocation or employment, in the year of assessment commencing on April 1, 1964, to a refund or set-off against the tax of seventy per centum of the excess referred to in paragraph (a) of this subsection; and | | |
| | (c) if he ceases to carry on or exercise that profession, vocation or employment in any of the next succeeding years of assessment, to a re-fund or set-off against the tax of such percent-age of the excess referred to in paragraph (a) of this subsection as will be less by five per centum than the percentage to which he shall be entitled in the immediately preceding year of assessment. | | |
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| (2) Where a person has commenced to carry on or exercise a profession, vocation or employment in Ceylon before April 1, 1951, then, if he ceases to carry on or exercise that profession, vocation or employment on or after April 1, 1958, the preceding provisions of this section shall apply to him in respect of that profession, vocation or employment. |
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Sri Lanka Consolidated Acts