Ask the owl. It reads the Act so you don’t have to.
Ask in plain English. Get an answer grounded in the Inland Revenue Act, IRD notices and your own return, with the sources shown under every answer.
Every plan includes the owl, from 10 questions on Free. It explains and cites; it doesn’t give a signed tax opinion.
The owl answers: Partly. Your bank kept AIT at 10%, so Rs 8,000 has already been paid for you. You still declare the full Rs 80,000 as interest. The Rs 8,000 is then credited against your tax in Pay & file, and if it’s more than you owe, the difference comes back as a refund.
- Interest earned
- Rs 80,000
- AIT kept by your bank (10%)
- Rs 8,000
- Credited against your tax
- −Rs 8,000
- Inland Revenue Act No. 24 of 2017 · AIT
- IRD notice · AIT at 10%
- Your return · bank interest
Grounded in six things. No web search, no guessing.
The owl only answers from a fixed library we keep up to date, plus the numbers in your own return. If the answer isn’t in there, it says so. How the TaxWise AI answers without making up tax law.
- 01
Inland Revenue Act, No. 24 of 2017
With every amendment since, read section by section, so each answer can point to the clause it rests on.
- 02
Amendment Act No. 02 of 2025
The changes for Y/A 2025/2026: the Rs 1,800,000 personal relief, the new slabs, solar relief and more.
- 03
IRD notices & circulars
Implementation notices, withholding and AIT rates, APIT tables and CBSL conversion rates.
- 04
Your own return
Every figure you’ve entered, every relief applied and every cage on your active return. Only yours.
- 05
Double tax agreements
Treaty articles quoted word for word when a question touches income from abroad, such as India, the UK or Singapore.
- 06
Selected case law
Supreme Court and Tax Appeals Commission decisions, where they clearly settle what a provision means.
What the owl will and won’t do.
A wise owl knows the edge of what it knows. These lines don’t move.
It will
- Explain what a cage on your return means, in plain English.
- Cite the section of the Act and the clause behind each calculation.
- Compare two valid readings of the law and tell you which one TaxWise applied, and why.
- Flag a relief that might apply to you that you haven’t claimed yet.
It won’t
- Suggest tax-avoidance schemes or anything outside the Act.
- Answer questions about returns that aren’t yours.
- Give a binding tax opinion. It cites; it doesn’t sign off.
- Guess. If the law is silent, it says “I don’t know” and suggests you speak to a tax advisor.
How many questions you get.
Every plan includes the owl. Pick the one that matches your income, and the questions come with it.
- Free10 owl questionsSalary and bank interestNo card needed
- Standard100 owl questionsAdds dividends, rent, capital gains and expensesRs. 11,800 a year
- ProMost popular300 owl questionsAll 10 income types, incl. freelance and foreignRs. 17,800 a year
- AdvisorFirms2,000 owl questionsFor practices filing for clientsFrom Rs. 29,800 a month
Get filing-ready for 2025/2026.
Your first estimate in about a minute. Free for salary and bank interest. No card needed.
Start my returnReturn for Y/A 2025/2026 due 30 November 2026