Bearer Prize Bonds of Rs40,000 not to be encashed after March 31

KARACHI: State Bank of Pakistan (SBP) has said that people can encashed Rs40,000 bearer prize bonds on or before March 31, 2020 and after that the financial instruments cannot be redeemed. Read more »

Tax collected on prize bond winning to be final

KARACHI: The withholding tax collected on winning of prize bond shall be final tax liability either it is collected from person appeared on Active Taxpayers List (ATL) or not. Read more »

Withholding tax rate on winning prize bonds

KARACHI: The rate of withholding tax on prizes and winning under Section 156 of Income Tax Ordinance, 2001 for Tax Year 2019. Read more »