Sri Lanka Consolidated Acts

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Inland Revenue Act (No. 4 of 1963) - Sect 20

Taxable income and the individual liable to pay income tax on such income. [ 12,18 of 1965.]

20.
(1)
(a) For any year of assessment ending prior to April 1, 1965, the assessable incomes of the members of a family other than the assessable income of the head of the family shall be aggregated; and
(b) for any year of assessment commencing on or after April 1, 1965, the assessable incomes of the members of a family (other than the assessable income of the head of the family and such portion of the assessable income of any child as consists of his occupational income) shall be aggregated;
(2) Where in respect of any year of assessment an individual is not included in a family, his assessable income for such year less the allowances to which he is entitled under section 21 shall be his taxable income for such year and he shall be liable to pay the tax on such taxable income.
(3) Where in respect of any year of assessment commencing on or after April 1, 1985, a child who is in receipt of occupational income and income other than occupational income for that year of assessment is included in a family, such child shall be assessed separately in respect of his occupational income for that year of assessment, and his occupational income shall be deemed to be his assessable income for that year of assessment and accordingly-
(a) such assessable income less the allowances to which such child, had he been an individual not included in a family, would have been entitled under section 21 shall be his taxable income for such year;
(b) such child shall be liable to pay the tax on his taxable income; and
(c) any such relief or deduction to which |such child is entitled under this Act shall be deducted from the income tax payable by such child in respect of such taxable income.
(4) Where in respect of any year of assessment commencing on or after April 1, 1965, the entirety of the assessable incomes of the members of a family are aggregated and such aggregated income is deemed to form part of the assessable income of the head of that family, any such relief or deduction to which any member of that family is entitled under this Act shall be deducted from the income tax payable by the head of that family.

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