New tax regulations take effect from today

New tax regulations take effect from today

The Inland Revenue Department has announced that individuals earning less than Rs. 1.8 million annually can now claim relief on the advance income tax (AIT) charged on interest or discounts from deposits. MORE..

The Inland Revenue Department says that individuals with an annual income of less than Rs. 1.8 million can claim the advance income tax relief charged on interest or discounts on deposits. It is stated that the personal income tax imposed on a person earning a monthly income of Rs. 100,000 has been increased to Rs. 150,000 from today (1). Annual […] The post Tax revisions from today appeared first on ITN News.

New tax regulations take effect from today - LankaXpress

The Inland Revenue Department has announced that individuals earning less than Rs. 1.8 million annually can now claim relief on the advance income tax (AIT) charged on interest or discounts from deposits. To avail themselves of this tax relief, eligible individuals must submit a self-declaration to their respective banks or financial institutions. The Inland Revenue Department has instructed these institutions to implement a 10 percent reduction…