Government imposes uniform WHT on profits from NSS
MG News | July 04, 2021 at 03:47 PM GMT+05:00
July 4, 2021 (MLN): Government has imposed a flat withholding tax of 15% on profits from saving certificates for filers while non-filers have to pay 30% on their profits from NSS certificates.
This will discourage investment as investors will shy away from investing in NSS.
Now any income earned is liable for withholding tax. On profit of Rs100,000 investors have to Rs15,000 as WHT.
Meanwhile, it is important to note that before finance bill withholding tax for filers was 10% while for non-filer it was 20% on earning a profit of Rs500,000 or more.
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