28. The following new heading and new section are hereby inserted immediately after section 47a, and the new section shall have effect as section 47b, of the principal enactment: -
| 47B.
| | (1) Where in any year of assessment a person has made an approved donation under section 46 and has not made an approved investment under section 47A, the amount of the relief from (the tax on account of that donation shall not exceed one-half of such permitted allowance in relation to that donation as is referred to in section 46, | | |
| | (2) Where in any year of assessment a parson has made an approved investment under section 47a and has not made an approved donation under section 46, the amount of the relief from the tax on account of that investment shall not exceed one-half of such permitted allowance in relation to that investment as is referred to in section 47A. | | |
| | (3) Where in any year of assessment a parson has made an approved donation under section 46 and an approved investment under section 47A, then-
| | | (a) the aggregate of the amount of that donation and the amount of that investment, or |
| (b) an amount representing one-fifth of the assessable income of 'that person for that year of assessment, or, if that person is a company, an amount representing one-tenth of the assessable income of that company for that year of assessment, or |
| (c) one hundred thousand rupees, |
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| | (4) In respect of the year of assessment commencing on [the 1st day of April, 1958, and of each of the two succeeding years of assessment, a person who has, in the preceding year of assessment, made an approved donation under section 46 and an approved investment under section 47A shall, on account of the aggregate of the amount of that donation and the amount of that investment, be entitled to such relief from the tax as will secure that the tax payable by him is reduced to the amount that would be payable as the tax if the permitted allowance in relation to both that donation and that investment were deducted from his statutory income: | | |
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Sri Lanka Consolidated Acts