10-23-2004, 08:57 PM
Salam Fozia
Your question is quite ambigous, i dont know what do you want to know? However, i will explain it keeping in mind the requirments of your question understood by me.
Dividends always fall under the head income from other sources, even if it is recieved by a Brokerage Company or any other company having a business, concerned with investments.
Dividend or any other income recieved by person from foriegn sources/non resident company, it will be treated as a separate head of income called 'Foriegn Source Income'. So if the dividend is recieved from foriegn source or else where/Pakistan Source Income, it will be taxed under Presumtive Tax Regime (PTR) and it will fall under the head income from other sources even if it is recieved by Investment Company because it is expressely provided in Income Tax Ordinance (ITO), 2001 that it will fall under the head income from other sources.
However dividend recieved from nonresident company/foriegn source shall enjoy the previlage of Tax Credit in accordance with the provision of the ITO 2001.
With Regards
Your question is quite ambigous, i dont know what do you want to know? However, i will explain it keeping in mind the requirments of your question understood by me.
Dividends always fall under the head income from other sources, even if it is recieved by a Brokerage Company or any other company having a business, concerned with investments.
Dividend or any other income recieved by person from foriegn sources/non resident company, it will be treated as a separate head of income called 'Foriegn Source Income'. So if the dividend is recieved from foriegn source or else where/Pakistan Source Income, it will be taxed under Presumtive Tax Regime (PTR) and it will fall under the head income from other sources even if it is recieved by Investment Company because it is expressely provided in Income Tax Ordinance (ITO), 2001 that it will fall under the head income from other sources.
However dividend recieved from nonresident company/foriegn source shall enjoy the previlage of Tax Credit in accordance with the provision of the ITO 2001.
With Regards
