3. Section 123 of the principal enactment is hereby repealed and the following new section substituted therefor: -
| 123.
| | (1) Every person who carries on any business in Sri Lanka in any year of assessment commencing on or after October 1, 1971, but prior to October 1, 1977, shall-
| | | (a) if such business is carried on by him during the entirety of any quarter in any such year of assessment and the turnover of that business for that quarter is not less than eighteen thousand seven hundred and fifty rupees, or |
| (b) if such business is carried on by him during a part of a quarter in any such year of assessment and the turnover of that business for that part of that quarter is not less than a sum which bears to eighteen thousand seven hundred and fifty rupees the same proportion as the number of days in that part of the quarter bears to ninety- one, |
|
| | (2) Every person who carries on any business in Sri Lanka in any year of assessment commencing on or after October 1, 1977, shall
| | | (a) if such business is carried on by him during the entirety of any quarter in any such year of assessment and the turnover of that business for that quarter is not less than twenty-five thousand rupees, or |
| (b) If such business is carried on by him during a part of a quarter In any such year of assessment and the turnover of that business for that part of that quarter is not less than a sum which bears to twenty-five thousand rupees the same proportion as the number of days in that part of the quarter bears to ninety-one, |
|
|
|
|
Sri Lanka Consolidated Acts