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NCCPL to collect capital gain tax on February 29

NCCPL launches pilot run for T+1 settlement cycle implementation
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February 22, 2024 (MLN): The aggregate amount of CGT arising on the disposal of shares at Pakistan Stock Exchange (PSX) for the period January 01, 2024, to January 31, 2024, would be collected on Thursday, February 29, 2024, through respective settling banks of the Clearing Members.

"All Clearing Members are hereby requested to ensure the requisite amount in their respective settling bank’s account," the notice issued by National Clearing Company of Pakistan Limited (NCCPL) today reads.

Further, the aggregate amount of CGT arising on trading of future commodity contracts at the Pakistan Mercantile Exchange for the period January 01, 2024, to January 31, 2024, would also be collected on Thursday, February 29, 2024.

Moreover, the aggregate amount of CGT arising on redemption of units of open-end mutual funds has also been finalized for the period January 01, 2024 to January 31, 2024.

Necessary details and reports have already been made available in the CGT System.

Clearing Members and Pakistan Mercantile Exchange are hereby requested to verify the investor-wise details of capital gain or loss and tax thereon, if any, through reports/downloads.

Please note that, in case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations.

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Posted on: 2024-02-22T10:11:30+05:00