Profit on debt earned by a non-resident person is exempt from-02030
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vu mgt502 Organizational Behaviour.
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vu mgt502 Mid Term Solved Past Paper No. 3.
Question 1: Profit on debt earned by a non-resident person is exempt from tax under clause (77) of Part I of the second schedule. Is this exemption only available to "Individuals" as reference has been made to persons being citizens of Pakistan or otherwiseProvide the details of this clause.
Answer:
No this exemption is also available Approved loans, Foreign currency accounts held in the Pakistani account, profit on rupee help with a scheduled bank in Pakistan, profit from the private frogin currency accounts held in the authorized banks.
