ISLAMABAD: The Finance Bill 2019 has proposed revised rates of Capital Gain Tax (CGT) on sale of securities under Section 37A of the Income Tax Ordinance, 2001.
According to EY Ford Rhodes Chartered Accountants the rate card for levying tax on capital gains arising on sale of securities as referred to in Section 37A is proposed to be replaced, whereby the category for non-filers and the respective slab rates have been removed.
The rates applicable for tax year 2019 are proposed to be further extended to tax year 2020 as under:
