Sri Lanka Consolidated Acts

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Inland Revenue (Amendment) Act (No. 8 of 1988) - Sect 16

Amendment of section 33 of the principal . enactment

16. Section 33 of the principal enactment is hereby amended by the repeal of subsection (lc) of that section and the substitution therefor, of the following subsection :
" (lc) Where for the period commencing on November 12, 1986, the taxable income of a company includes any capital gain arising from the change of ownership of any property, the provisions of subsections (3A) and (3B) of section 32 shall, mutatis mutandis, apply to the taxation of that capital gain.".

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