Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsIncome tax deducted not to form part of assets of employers
| 123. Notwithstanding anything in any other law, the amount of every tax deduction made under the provisions of this Chapter and held by the employer for remittance to the Commissioner-General, shall not be such property of such employer as is liable to execution or administration in the event of the bankruptcy, liquidation, dissolution or death of such employer or to assignment for the benefit of creditors, and such amount shall remain apart from and form no part of the estate in bankruptcy, liquidation, assignment of such employer or the estate of the deceased employer. |