Rs86b withdrawn from saving schemes tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
Be an early bird to save on taxes
Updated:
Updated:
The earlier the better it is for investing in tax-saving instruments
Share Article
The earlier the better it is for investing in tax-saving instruments
You would be thinking, we just got over one tax ‘season’ viz. March 2021. Why talk of the next season right now? Well, the earlier the better. You get more time to plan, execute and revise your plan.
It is a mindset that when we have a deadline for, say, submission of a form or filing a tax return, we take the last date as ‘the’ date for doing it. The fact is, time is up to the last date and delay is not desirable unless there is a reason.
Govt raises profit rates on saving certificates
Move aimed at attracting higher investments in government papers
KARACHI:
The federal government has increased the rate of profit in a range of 12-96 basis points on various national saving certificates partly to attract higher investment in the government papers and partly to pass on benefit of rise in returns from Pakistan Investment Bonds (PIBs).
The Central Directorate of National Savings (CDNS), which operates under the ambit of the finance ministry, reinvests the funds received from retail investors into three to 10-year PIBs.
So far, the CDNS has mobilised a meagre investment of Rs28.68 billion in the first five months (Jul-Nov) of the current fiscal year compared to Rs371 billion in the previous full fiscal year 2020, according to the State Bank of Pakistan.