17. The following new section is hereby inserted immediately after section 112 of the principal enactment and shall have effect as section 112A of that enactment : -
| 112A.
| | (1) Where the aggregate amount of such part of remuneration being the relevant profits from employment (within the meaning of subsection (2) of section 32EEE) of any specified employee for the year of assessment commencing on April 1,1993 does not exceed one hundred and forty-four thousands rupees it shall be lawful the employer of such employee to refund to such employee the income tax deducted by such employer in accordance with the provision of this chapter for that year assessment from such part of such remuneration of such employee and remitted to the Commissioner-General. | | |
| | (2) Where an employer has refunded income tax to any employee under the provisions of subsection (1), such employer shall be entitled to-
| | | (a) set off the amount so refunded or any part thereof, against any subsequent remittance required to be made by him in respect of any pay period ; and |
| (b) a refund of the excess, if any, of the amount so refunded over the total of the sums set off under the provisions of paragraph (a). if a claim is made in writing in that behalf to the Commissioner-General, not late* than March 31. 1997. |
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| | (3)The Commissioner-General may, for She purpose of permitting the set off or granting the refund under subsection (2), require such employer to produce proof of the refund of the income tax referred to in subsection (1). | | |
| | (4) Where an employer has set off, under the provisions of paragraph (a) of subsection (2). any income tax referred to in subsection (1) against any subsequent remittance required to be made by him, the provisions of subsection (1) of section 107 and subsection (1) of section 108 shall not be applicable to such employer in respect of the tax so set-off, | | |
| | (5) Where a specified employee has received a refund under subsection (1), such employee shall not be entitled-
| | | (a) to a set-off under section 111, of the amount of income tax deducted under this Chapter and refunded to him under subsection (1) ; or |
| (b) to a refund under section 149, of such amount,". |
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Sri Lanka Consolidated Acts