An opportunity to invest black money in capital market

The government wants to bring undisclosed money into the mainstream economy. So the budget is given special opportunity to invest this money. There is an opportunity to invest black money in the capital market and housing sector in the next financial year as well. However, for this you have to pay additional 10 percent tax of regular tax.

The Anti-Corruption Commission (ACC) or any other body will not question if money is invested in the capital market and housing sector. The Income Tax Ordinance is being amended for this. This information has been given by the responsible sources of the Ministry of Finance and the National Board of Revenue (NBR).

The current budget provides special opportunities to bring black money into the mainstream economy. Investment in the capital market or housing sector is offered with a 10 per cent tax, which will remain in force till June 30. However, in the proposed budget for the fiscal year 2021-22, this opportunity is not extended and it is being canceled legally.

Sunbd/NJ