Computation of income of a banking company tax year 2020
August 9, 2019
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August 9, 2019
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Computation of income of a banking company for imposition of super tax

Computation of income of a banking company for imposition of super tax

Computation of income of a banking company for imposition of super tax for tax year 2020

The rate of super tax for a banking company is 4% of the income up to the tax year 2021. Income for the purpose of imposition of super tax is computed as per sub-section (2) of section 4B.

An amendment has been made in clause (iv) of subsection (2) to the effect that brought forward depreciation, brought forward amortization and brought forward business losses shall be excluded while computing income of a banking company for the purpose of imposition of super tax.

These explanations have been issued by FBR after the Finance Act 2019 approved / passed from the parliament of Pakistan.

Waheed Ensari
Waheed Ensari
Waheed focuses on modern techniques in order to management of businesses through finances, learning & development, IT.Its his appetite which draws his attention & energy in helping people (business owners/entrepreneurs) – to get the crystal aspects of the business.

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