10-05-2010, 08:46 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by sajid naveed khan</i>
<br />Hmm thek to koi ya btaye ga Foreign currency accounts (US $) pr jo profit on debt milta hai us pr tax exemption hai k nahi?
Like Citi Bank wlay deduct nahi krtay but MCB deduction krta hai,
Please see clause 78 of 2nd Schedule
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Yes as per clause 78 of Part -I of second sechedule , the bank profit on foregin currency accounts is exempt from Tax. But unfortunately few of the banks deduct tax on bank profit on foreign currency accounts. UBL is also deducting tax.
<br />Hmm thek to koi ya btaye ga Foreign currency accounts (US $) pr jo profit on debt milta hai us pr tax exemption hai k nahi?
Like Citi Bank wlay deduct nahi krtay but MCB deduction krta hai,
Please see clause 78 of 2nd Schedule
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Yes as per clause 78 of Part -I of second sechedule , the bank profit on foregin currency accounts is exempt from Tax. But unfortunately few of the banks deduct tax on bank profit on foreign currency accounts. UBL is also deducting tax.
