Investors must maintain separate brokerage account records, fortnightly broker and CDC statements, securities holdings and details of all fund deposits and withdrawals.

ISLAMABAD: The Federal Board of Revenue (FBR) has prescribed record-keeping requirements for Pakistan Stock Exchange (PSX) investors for Tax Year 2027 under Section 37A of the Income Tax Ordinance, 2001.

The FBR issued the Income Tax Rules, 2002, updated up to September 15, 2026, covering the tax year from July 1, 2026, to June 30, 2027.

Under Rule 13I, every investor must maintain separate accounts and records for each brokerage account relating to securities transactions. These records must be sufficient to verify compliance with the relevant tax rules.

The FBR has specified six categories of documents that investors must maintain:

1. Brokerage ledger statements: Fortnightly ledger statements generated by brokers for every brokerage account, including accounts held in the investor’s own name or benami accounts.

2. CDC statements: Fortnightly statements for every Central Depository Company (CDC) sub-account corresponding to each brokerage account.

3. Securities holdings: Records of securities held in brokerage accounts, including their values, as of June 30 each year.

4. Cash balances: Details of cash maintained in brokerage accounts as of June 30 annually.

5. Funds deposited: Complete records of money deposited into investors’ brokerage accounts.

6. Funds withdrawn: Records of all amounts withdrawn from brokerage accounts.

The requirements apply separately to each brokerage account and corresponding CDC sub-account where investors maintain multiple accounts.

These provisions form part of the FBR’s framework for computing capital gains on the disposal of securities under Section 37A.

The record-keeping requirements are intended to enable verification of investors’ securities transactions and their compliance with capital gains tax obligations for Tax Year 2027.