09-13-2005, 09:53 PM
In the recent budget, so called friendly especially investor friendly budget, had introduced a drastic new concept. That shows that government has no understanding of Taxation.
As per Income Tax Ordinance 2001, section (2), Inocme tax is leviable only on the income. If a person has paid all his taxes.
Then why his saving should again be taxed at the time of withdrawl from bank?
What the forum thinks about it.
Whether he should be taxed again or not? Further Whether taxing the saving is lawfull (Where even ITO 2001 does not allows that)?
Thanks
As per Income Tax Ordinance 2001, section (2), Inocme tax is leviable only on the income. If a person has paid all his taxes.
Then why his saving should again be taxed at the time of withdrawl from bank?
What the forum thinks about it.
Whether he should be taxed again or not? Further Whether taxing the saving is lawfull (Where even ITO 2001 does not allows that)?
Thanks
