NCCPL to collect monthly capital gain tax on June 29

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Monday announced that amount of Capital Gain Tax (CGT) for the month of May 2017 will be collected on June 29, 2017.
The NCCPL collects CGT on behalf of Federal Board of Revenue (FBR) under Income Tax Ordinance, 2001.
In this regard the NCCPL said that the aggregate amount of CGT, for the period May 01, 2017 to May 31, 2017, would be collected on Thursday, June 29, 2017 through respective settling banks of the Clearing Members along with refund or adjustments on the basis of amount collected up to April 30, 2017.
The NCCPL directed the clearing members to ensure requisite amount in their respective settling bank’s account.
In case of none or partial collection of amount of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations, it added.
Necessary details and reports for the said period have already been made available in the CGT System. Clearing Members are advised to verify their client/proprietary account wise details of capital gain or loss and tax thereon, if any, through reports/downloads.

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