Govt to tax bank transactions above Rs 50,000 in a day by 0.6pc


ISLAMABAD (Dunya News) – Government has levied a 0.6 percent tax on amount withdrawn from one or more accounts if it exceeds Rs 50,000 in a day, reported Wednesday.

Traders have resented the new tax levied on bank transactions in the fiscal year 2016-17 budget.

The imposition is not restricted to one account as 0.6 percent tax will be deducted if transactions worth more than Rs 50,000 are made from different accounts, given that all are registered under same identity card.

Account holders who have filed tax returns will have to pay 0.3 percent Withholding Tax. However, traders have said that the imposition would not irk trading community but the locals as well.


WATCH VIDEO:

Source

http://dunyanews.tv/

What's Your Reaction?

Cry Cry
0
Cry
Cute Cute
0
Cute
Damn Damn
0
Damn
Dislike Dislike
0
Dislike
Lol Lol
0
Lol
Like Like
0
Like
Love Love
0
Love
Win Win
0
Win
WTF WTF
0
WTF

Govt to tax bank transactions above Rs 50,000 in a day by 0.6pc

log in

Become a part of our community!

Don't have an account?
sign up

reset password

Back to
log in

sign up

Join BoomBox Community

Back to
log in
Choose A Format
Personality quiz
Trivia quiz
Poll
Story
List
Open List
Ranked List
Meme
Video
Audio
Image