Regulatory Alerts2017-04-27
Added · Updated
DMD Circular No. 01: Source Tax Deduction from the Interest of National Savings Schemes (Sanchaypatra)
The Department of Management and Development directs scheduled banks to continue deducting source tax at a rate of 5% from interest earned on cashed National Savings Instruments (Sanchaypatra) on or after July 1, 2016. This directive aligns with decisions by the National Board of Revenue and maintains the instructions issued in the previous circular dated September 7, 2016, which remain unchanged.
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