Sri Lanka Consolidated Acts

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Land Tax Act (No. 27 of 1961) - Sect 7

Set-off against the land tax in certain circumstances [ 19,10 of 1962.]

7. Where the aggregate of-
(a) the land tax to which a person other than a company is liable for any year of assessment, and
(b) the income tax to which such a person is liable under the Income Tax Ordinance for that year of assessment,
exceeds eighty per centum of the assessable income of such person under that Ordinance for that year of assessment, the excess shall be set off against the land tax to which that person is liable for that year of assessment.

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