8. Section 125 of the principal enactment is hereby amended as follows:
| (1) in subsection (1A) of that section by the substitution for the words and figures "specified in section 97 (3),", of the words and figures " specified for the payment of that tax in section 97 (3) or section 97(4),"; |
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| (2) in subsection (2) of that section, by the addition, immediately after paragraph (iii) of the proviso to that subsection, of the following paragraph:
| | " (iv) for any year of assessment commencing on or after April 1, 1989, any excess of advance company tax paid by a company and carried forward in accordance with the provisions of subsection (3) of section 33A, from the year immediately preceding that year of assessment may be deducted, to the extent it can be deducted, first from the quarterly installment payable on or before the fifteenth day of August in that year of assessment and the balance, if any, of such excess, from the next quarterly installment payable on or before the fifteenth day of November in that year of assessment and so on, and the amount so deducted shall, for the purposes of this paragraph, be deemed to have been paid on the fifteenth day of August, or the fifteenth day of November and so on, as the case may be. "; and | | |
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| (3) in subsection (11) of that section, by the substitution for the words " any year of assessment.", of the words " any year of assessment, the advance company tax payable for any year of assessment by a company in relation to any qualifying distribution.". |
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Sri Lanka Consolidated Acts