66.
| (1) Where any person in Ceylon pays or credits to any person or partnership out of Ceylon any sum falling due as-
| | (a) interest on debentures, mortgages, loans, deposits or advances; or | | |
| | (b) rent, ground rent, royalty, or annuity which is payable either in respect of property in Ceylon or out of income arising in Ceylon, | | |
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| (2) Any person who deducts income tax in accordance with the provisions of subsection (1) from any sum paid or credited to a person or partnership out of Ceylon shall thereupon issue to such person or partnership a statement in writing showing-
| | (a) the gross amount of such payment; | | |
| | (b) the rate and amount of the tax so deducted; and | | |
| | (c) the net amount actually paid. | | |
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| (3) Where the assessable income of a person includes a sum from which income tax has been deducted in accordance with subsection (1), he shall be entitled, on production of a statement relating to such sum issued in accordance with subsection (2), to a set-off against the tax payable by him of the amount of tax shown on such statement. |
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| (4) Where in consequence of the provisions of this section income tax is deducted during any year of assessment from the income of a person out of Ceylon arising from a source in respect of which that person is liable to be assessed for the same year of assessment either directly or through an agent, and no set-off is due under the provisions of subsection (3) for that year of assessment, the Commissioner may grant such relief as he may decide to be reasonable. |
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| (5) Where for any year of assessment the whole or any part of the assessable income of any non-resident person, other than an individual who is entitled to relief under section 70 (2) and has claimed such relief, is composed of income from which income tax has been deducted by virtue of subsection (1) of section 27 or subsection (1) of this section, and the rate (hereinafter referred to as the " new rate ") at which tax is deductible under the aforesaid subsection for that year of assessment is either greater or less than the corresponding rate for the year preceding the year of assessment in which the tax was so deducted, the income from which the tax has been so deducted shall be treated for all purposes of this Act as if income tax had been deducted therefrom at the new rate. |
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Sri Lanka Consolidated Acts