08-02-2009, 10:09 PM
Dear,
As per section 151(3) Every person who pays profit on debt with regards to Profit on debt or deposit maintained by a banking company or a financial institution Or,
Profit on debt on Bonds, Certificates, Debentures or security issued by a banking company, shall be required to deduct Tax @ 10%, the tax so deducted shall be treated as a Final Tax against the income of the recipient on account of profit on debt.
Best Regards,
As per section 151(3) Every person who pays profit on debt with regards to Profit on debt or deposit maintained by a banking company or a financial institution Or,
Profit on debt on Bonds, Certificates, Debentures or security issued by a banking company, shall be required to deduct Tax @ 10%, the tax so deducted shall be treated as a Final Tax against the income of the recipient on account of profit on debt.
Best Regards,
