ISLAMABAD: Federal Board of Revenue (FBR) has said that every investor of stock exchange shall maintain accounts and records separately for each of his brokerage accounts regarding payment of capital gain tax (CGT).
The FBR officials on Thursday said that the record shall be maintained in a way which sufficiently enable for verification of discharge of his obligations under these rules.
Every investor shall maintain in particular the following accounts and records, namely:-
(a) fortnightly ledger statements of the investor’s brokerage account or each brokerage account if there are more than one account whether in the investor’s own name or any benami accounts, generated by his broker;
(b) fortnightly CDC statements of the investor’s CDC sub account or each CDC sub account corresponding to each brokerage account, if there are more than one brokerage account whether held in the investor’s own name or any benami accounts;
(c) record of security holdings and their value carried in the investor’s brokerage account on 30th June of each year;
(d) record of cash carried in the investor’s brokerage account as on 30th June of each year;
(e) record of funds deposited in the investor’s brokerage account; and
(f) record of funds withdrawn from the investors brokerage account.