Are remittances from overseas parents taxable?

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Waqas Mansoor · Answer 1 · 2025-08-18T00:20:27+0000

If it is sent through foreign exchange into normal banking channel (i.e State Bank of Pakistan, schedule banks) and its encashment certificate is also available, then under section 111(4) of the Income Tax Ordinance, 2001 Foreign Remittances are exempted and should be declared in reconcilliation section of wealth statement in foreign remittances tab.

Are remittances from overseas parents taxable?

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