Withholding tax on Bank Profit

[nomanejaz2009]

plz yeh baatain k bank profit pe jo with holding tax kat ta hai, wo final tax main jaata hai kya aur return main profit on debt k column mein jaata hai kia.

[LapTop]

Noman bnhai,,,

jo profit ap ko bank dayta hay wo profit on debt hi hay or ye FTR hi may aata hay..

[nomanejaz2009]

thanks lap top bahi.

[Information Consultant]

profit on debt kay sath aneexure b may bhi tax ki figureaay gi column dekh laina

[nomanejaz2009]

okay informatin bhai.

[sajid naveed khan]

Hmm thek to koi ya btaye ga Foreign currency accounts (US $) pr jo profit on debt milta hai us pr tax exemption hai k nahi?
Like Citi Bank wlay deduct nahi krtay but MCB deduction krta hai,
Please see clause 78 of 2nd Schedule

[mirfawad]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by sajid naveed khan</i>
<br />Hmm thek to koi ya btaye ga Foreign currency accounts (US $) pr jo profit on debt milta hai us pr tax exemption hai k nahi?
Like Citi Bank wlay deduct nahi krtay but MCB deduction krta hai,
Please see clause 78 of 2nd Schedule
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

Yes as per clause 78 of Part -I of second sechedule , the bank profit on foregin currency accounts is exempt from Tax. But unfortunately few of the banks deduct tax on bank profit on foreign currency accounts. UBL is also deducting tax.

[sajid naveed khan]

mirfawad Thanks dear,

Any expert opinion from any other,
I am going to adjust this deduction against other tax liability, is it correct na?

[alialiali]

PROFIT ON DEBTS ON PAK RUPEES ACCOUNTS COVERED UNDER FTR (EXCEPT FOR COMPANIES)