Karachi: National Clearing Company of Pakistan Limited (NCCPL) has announced the completion and availability of Annual Certificates of Capital Gain Tax (CGT) and Super Tax for the financial year ended June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the certificates cover the fiscal year 2023-24 and adhere to regulations stipulated in the Income Tax Ordinance, 2001, and the Income Tax Rules, 2002.
The certificates, essential for investors and taxpayers under the CGT regime as per the specific provisions of the Income Tax Ordinance, are now accessible in various formats. All Clearing Members (CMs), Pakistan Mercantile Exchange Limited (PMEX), and Asset Management Companies (AMCs) are integral to the distribution process.
NCCPL has facilitated the availability of these documents through multiple channels. CMs can access the CGT Certificates through the CGT portal and are responsible for issuing them to their clients either electronically or in printed form. Soft copies on Compact Disks are provided to PMEX and AMCs for onward distribution.
Investors and taxpayers have several options for obtaining their certificates:
1. Directly from CMs if the capital gains or losses are associated with transactions executed through a single Broker Clearing Member or multiple, but specific to transactions from those BCMs.
2. PMEX and AMCs will distribute to their respective investors unless multiple AMCs are involved, in which case distribution is handled per individual AMC involvement in the transactions.
3. NCCPL offers additional retrieval methods starting August 15, 2024, via the UIS portal, and from August 22, NCCPL's NCConnect mobile app for both Android and iOS users will also be operational. The app facilitates access to these certificates, enhancing convenience for users.
4. Physical pickup is available at NCCPL’s offices in Karachi, Lahore, and Islamabad, or through authorized representatives bearing the necessary documentation.
This streamlined distribution and access framework ensures that all parties comply with regulatory requirements and receive their documents promptly, reflecting NCCPL's commitment to maintaining transparent and efficient tax documentation processes.