150.
| (1)Any bank or financial institution which is liable to deduct income tax from interest paid by such bank or financial institution under this Chapter, shall apply for and obtain a registration number from the Commissioner- General, thirty days prior to the commencement of such deduction of tax, and shall furnish a return to the Commissioner-General on a monthly basis, containing such particulars as may be specified by the Commissioner-General in relation to such deductions. |
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| (2) Any bank or financial institution which does not so register or does not furnish any return shall be liable to a penalty not exceeding fifty thousand rupees, which may be imposed by the Commissioner-General. |
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Sri Lanka Consolidated Acts