Income Tax Evasion And Nondisclosure Of Profits And Income Act (No. 13 of 1964)

Sri Lanka Consolidated Acts

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Income Tax Evasion And Nondisclosure Of Profits And Income Act (No. 13 of 1964) - Sect 7

Indemnification of persons who pay tax against liability to prosecutions and to pay income tax

7. Where tax is paid or deemed to have been paid as required by section 5 by any person to whom this Act applies, such person shall not be liable-

(a) to a prosecution for any offence under any of the sections of written law referred to in the Schedule to this Act in respect of the profits or income specified in the declaration made by such person under section 3 and the profits or income invested in the acquisition of articles of value specified in such declaration, and

(b) to pay for any year of assessment commencing on or before April 1, 1964, income tax under the law for the time being applicable to income tax in respect of such profits or income.

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