41.
| (1) This Chapter shall not apply to any gift made by any individual-
| | (a) of immovable property situated outside Ceylon; | | |
| | (b) of movable property situated outside Ceylon unless he is a citizen of Ceylon and is resident in Ceylon during the year in which the gifts are made, such year being the year preceding a year of assessment; | | |
| | (c) to any child, whether such child is over or under twenty-five years of age, of such individual in consideration of the marriage of such child subject to a maximum of ten thousand rupees in value in respect of the marriage of each such child; | | |
| | (d) on or after July 18, 1958, to a charity which is an approved charity within the meaning of section 67 (1) (b), each such gift being over one thousand rupees in value, subject to a maximum of three hundred thousand rupees in value for the lifetime of such individual; | | |
| | (e) to the Government or to any local authority; | | |
| | (f) at any time before July 18, 1958; | | |
| | (g) in the year preceding a year of assessment commencing on or after April 1, 1963, the value of which, or if more than one gift is made in that year the aggregate value of such gifts, does not exceed one thousand rupees; | | |
| | | (i) in contemplation of death. | | |
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| (2) For the purposes of subsection (1), a property shall be deemed to be gifted by any individual in contemplation of his death if he, being ill and expecting to die of his illness, gives to any person possession of that property which is to be a gift to that person in case the donor dies of his illness, the gift being revocable by the donor and being inoperative in the event of the donor's recovery from his illness or his surviving that person. |
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Sri Lanka Consolidated Acts