Dear Readers,
Thanks for stopping by and giving your time to read it. I just need a simple help form all of you whoever has the right answer .....
My problem is that I invested some money in Defence saving certificates in Jan. 2002 and because of some reasons i want to encash them now. But when i went to national saving center for encashment they are insisting to deduct 10% with holding tax. because certificates are more then 150000. i argued them that these certificates are joint accounts. so i am not liable for with holding tax. But they don't agree saying even it is joint account still we consider it one account and limit is only 150000 w.e.f Jan 2001. I know before that there was no limit and later it was changed to 150000 but gradually.
COULD ANYONE TELL ME THE RIGHT WEBSITE WHERE I CAN FIND THE LIMITS OF INVESTMENT DATE WISE.
The reason why i am asking, i want to fight with the saving center for my right provided i have the proof.
Help me pls.
Javed replied on Friday, January 23, 2009 06:01 PM
Pls visit this link for the needful:
http://www.savings.gov.pk |
Jameel replied on Friday, January 23, 2009 06:22 PM
They are telling right they charge 10% on Profit only no matter it is single or Joint account on the other hand if you would have invested 1.5 lac each in separate names then it would have been helpful. |
