Income tax is charged on the basis of the provisions of the Inland Revenue Act No. 10 of 2006 as amended by Inland Revenue Amendment Acts No. 10 of 2007, 9 of 2008, 19 of 2009, 22 of 2011, 8 of 2012 and 18 of 2013. The Inland Revenue Act provides the legal authority to charge, levy and collect income tax on the profits and income of every person or partnership, which arose or is arising to such person for every year of assessment commencing on or after 1st of April, 2006. In respect of a person who is deemed to be resident in Sri Lanka is chargeable with income tax in respect of his income from Sri Lanka and income derived by him from outside Sri Lanka. The liability to income tax therefore extends to his global income. A person who is deemed to be non-resident in Sri Lanka is chargeable with income tax in respect of only the profits and income, arising or derived from Sri Lanka.   Payment of Tax IT is payable on self assessment basis in five Installments.1st Installment - on or before the 15th day of the month of August that relevant year2nd Installment - on or before the 15th day of the month of November that relevant year3rd Installment - on or before the 15th day of the month of February that next year4th Installment - on or before the 15th day of the month of May that next yearFinal Installment - on or before the 30th day of the month of September that next year Discount on Income Tax payable by Individuals Any individuals who makes any quarterly self-assessment income tax payment, one month before the due date, is entitled to a 10% discount thereon (not exceeding such percentage on the instalment based on the current year profits). Furnishing Income Tax (IT) Returns Due date :Return of Income Tax (IT) should be furnished on or before 30th day of the month of November that end of relevant assessment year. Submitted to :Relevant Branch