8A.
| (1) Where the net wealth for any year of assessment of a person in the capacity of a trustee of a trust or of a corporation or an unincorporate body of persons, who or which is a charitable institution within the meaning of the Income Tax Ordinance, exceeds twenty thousand rupees, the entirety of such net wealth shall be the taxable wealth of such person or corporation or unincorporate body of persons, as the case may be, for that year of assessment, and such person, corporation or unincorporate body of persons shall be liable to make the contribution in respect of such taxable wealth to the Personal Tax for that year of assessment. |
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| (2) The contribution which a person in the capacity of a trustee of a trust or a corporation or an unincorporate body of persons referred to in subsection (1), is liable to make in respect of the taxable wealth of such person, corporation or unincorporate body to the Personal Tax for any year of assessment shall not be more than the amount by which the taxable wealth of such person, corporation or unincorporate body exceeds twenty thousand rupees. |
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Sri Lanka Consolidated Acts