KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Wednesday announced to collect capital gain tax for month of June 2020 on July 30, 2020.
The NCCPL in a statement said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period June 01, 2020 to June 30, 2020, would be collected on Thursday July 30, 2020 through respective settling banks of the clearing members, along with refund or adjustments on the basis of amount collected up to previous month.
All Clearing Members are advised to ensure requisite amount in their respective settling bank’s account.
Necessary details and reports for the said period have already been made available in the CGT System, the NCCPL said.
Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period June 01, 2020 to June 30, 2020, would also be collected from the Pakistan Mercantile Exchange on Thursday July 30, 2020. Necessary details and reports for the said period have already been made available.
Moreover, the aggregate amount of CGT arising on redemption of units of open end mutual funds have also been finalized for the period June 01, 2020 to June 30, 2020. Necessary details and reports have already been made available in the CGT System.
The NCCPL further said that consequent to amendments introduced in section 37 A pertaining to adjustment of carry forward of losses for three years, net capital gains as on June 30, 2020 has been adjusted with net capital loss as on June 30, 2019 and accordingly any CGT collected thereon if any, shall be refunded/adjusted.
