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General Queries

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#1
Sonu Panjwani

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    Please help me out.

    For example, I have bought 1000 shares of TELE at 5 rupees and sell at 6 rupees within one week or one month. Anyone please tell me how much I have to pay CGT (Capital Gain Tax) on it. ??
    Cheers,
    SK.


    #2
    DamnGood

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    CGT Ordinance 2012 Promulgated

    April 25, 2012

    President Asif Ali Zardari has promulgated the Capital Gains Tax Ordinance 2012 to give a boost to liquidity on the stock market. The Ordinance will become part of the Finance Bill 2012 to be placed before the National Assembly on May 25th and will only apply to investor portfolios on the ready market. Under the revised CGT regime, 10 percent CGT tax would be collected on the holding of shares for the period of less than six months while on the holding of shares for a period between six to 12 months the CGT rate would be at the rate of 8 percent. This tax rate would be frozen for the period of two years.The filing of the tax returns will be compulsory along with wealth tax statements for all investors of the stock market. The Capital Gains Tax collection and deduction would be carried out by National Clearing Company of Pakistan Limited (NCCPL), which has been declared a tax collecting agent under the amended law…..The President has also signed the Stock Exchange (Corporatization, Demutualization and Integration) Bill, 2009…. Business Recorder
    If you aren't remembered, then you never existed!

    #3
    fasee

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    View PostSonu Panjwani, on 16 July 2013 - 09:20 AM, said:

    Please help me out.

    For example, I have bought 1000 shares of TELE at 5 rupees and sell at 6 rupees within one week or one month. Anyone please tell me how much I have to pay CGT (Capital Gain Tax) on it. ??

    u earned a 1000 gross profit....nccpl wud calculate n deduct the tax from ur account directly
    It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.

    #4
    Mohammad Rizwan

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    View PostSonu Panjwani, on 16 July 2013 - 09:20 AM, said:

    Please help me out.

    For example, I have bought 1000 shares of TELE at 5 rupees and sell at 6 rupees within one week or one month. Anyone please tell me how much I have to pay CGT (Capital Gain Tax) on it. ??
    1000@10%=100 CGT will be charged
    It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price

    #5
    Sonu Panjwani

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    View Postfasee, on 16 July 2013 - 09:30 AM, said:

    u earned a 1000 gross profit....nccpl wud calculate n deduct the tax from ur account directly

    i.e. 10%. Right ??
    Cheers,
    SK.

    #6
    Sonu Panjwani

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    Don't you guys think it's too much...
    Tareekh pe taareekh ....

    TAX pe TAX, TAX pe TAX sirf TAX hi de rahe hain janaab faida nahi hota ...
    Cheers,
    SK.






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