CGT on immovable properties reduced by 50 percent

Jun 20

Budget 2020-2021, Taxation

CGT on immovable properties reduced by 50 percent

ISLAMABAD: The capital gain tax on (CGT) disposal of immovable properties has been reduced by 50 percent in order to promote investment in construction industry. According to Deloitte Yousuf Adil, Chartered Accountants, the Finance Bill 2020 proposed reduction in tax rates by 50 percent on capital gains arising on disposal of immovable property. This is […]

by Mrs. Anjum Shahnawaz

NCCPL announces CGT collection on May 29

May 20

Stock & Commodity

NCCPL announces CGT collection on May 29

The National Clearing Company of Pakistan Limited (NCCPL) has declared that Capital Gain Tax (CGT) for the month of April 2020 will be collected on May 29, 2020.

by Mrs. Anjum Shahnawaz

NCCPL says CGT December payment due on January 29

Jan 21

Stock & Commodity, Taxation

NCCPL says CGT December payment due on January 29

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Tuesday announced date for payment of capital gain tax (CGT) for the month of December 2019.

by Mrs. Anjum Shahnawaz

Up to 75% capital gain tax exempt on immovable property sale

Jan 8

Taxation

Up to 75% capital gain tax exempt on immovable property sale

KARACHI: The government has exempted capital gain tax up to 75 percent in case an immovable property sold by government employees of army personnel after completion of three years. According to BDO Audit Consultancy Firm, Clause (9A) of Part III of Second Schedule provides a 50 percent exemption on capital gain derived on first sale […]

by Mrs. Anjum Shahnawaz

NCCPL to collect CGT for Oct-Nov on Jan 03

Dec 23

Stock & Commodity, Taxation

NCCPL to collect CGT for Oct-Nov on Jan 03

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Monday announced to collection capital gain tax (CGT) for the months of October – November 2019 on January 03, 2020. In a communication sent to Pakistan Stock Exchange (PSX), the NCCPL said that the aggregate amount of CGT arising on disposal of shares at PSX for […]

by Mrs. Anjum Shahnawaz

NCCPL delays CGT collection due to computation process

Nov 20

Stock & Commodity

NCCPL delays CGT collection due to computation process

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Wednesday said that it has delayed the collection of capital gain tax (CGT) for the month of October 2019 due to computation procedures. In a notice to Pakistan Stock Exchange (PSX), the NCCPL said that the CGT was to be collected on November 19, 2019 for […]

by Mrs. Anjum Shahnawaz

Tax rules for computation of profits, gains of insurance business

Nov 11

Taxation

Tax rules for computation of profits, gains of insurance business

KARACHI: Federal Board of Revenue (FBR) has issued updated rules for the computation of profits and gains of the insurance business under Income Tax Ordinance, 2001. The FBR recently updated Income Tax Ordinance, 2001 up to June 30, 2019 for the tax year 2020. Profits on Life Insurance to be Computed Separately 1. The profits […]

by Mrs. Anjum Shahnawaz

NCCPL to collect capital gain tax on October 09

Oct 3

Stock & Commodity

NCCPL to collect capital gain tax on October 09

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) has announced that it will collect Capital Gain Tax (CGT) on disposal of shares on October 09, 2019 for the period July and August. Informing the Pakistan Stock Exchange (PSX), the NCCPL said that the aggregate amount of CGT arising on disposal of shares at PSX for […]

by Mrs. Anjum Shahnawaz

NCCPL announces 100 percent higher tax collection from investors not on ATL

Sep 18

Stock & Commodity

NCCPL announces 100 percent higher tax collection from investors not on ATL

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Wednesday informed investors of Pakistan Stock Exchange (PSX) that tax rate on capital gain will be 100 percent higher for those not appearing in Active Taxpayers List (ATL). In a letter communicated to Pakistan Stock Exchange (PSX), the NCCPL said that through Finance Supplementary (Second Amendment) […]

by Mrs. Anjum Shahnawaz

NCCPL to collect capital gain tax on disposal of securities on June 28

Jun 21

Stock & Commodity

NCCPL to collect capital gain tax on disposal of securities on June 28

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Friday announced that it will collect Capital Gain Tax (CGT) on disposal of securities for the month of May on June 28, 2019. In a statement it said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period […]

by Mrs. Anjum Shahnawaz