Advance/Super/Income Tax on Bank Fixed Term Deposit Profits

Question

AoA,

1)Aik Sahb nay 2024 main National Savings or aik Conventional Bank main Funds ko Term Deposit Karaya jis main National Savings kay RIC (Regular Income Certificate) 5 Years Monthly profit payout main investment ki or us pay Bank 2025-2026 Fiscal Year main bhi 15% Withholding Tax Deduct Kar raha ha Rather then 20% is ki samajh nahin aai k aysa kion ho raha ha kion k doosra conventional Bank 20% Withholding Tax deduct kar raha ha Profit pay. Doosra ya k unhain 8 Million Profit aa raha ha Yearly National Savings say to kia remaining 4 years bhi un say 15% withholding tax lia Jay ga ya revise ho Jay ga 20% tak conventional Bank ki tarha plz guide.

2) Conventional Bank say 1 million Rupees Profit mill raha ha jis pay 20% withholding tax deduct ho raha ha.

3) Total 9 Million Rupees Yearly Profit Milta ha unhain withholding tax deduct kar kay to abh further unhain Advance/Super or Income Tax bhi pay karna ho ga government ko National Savings / Conventional Bank Walay Profit pay or agar han to wo kitni Amount ho gi is 9 Million rupees Profit pay usay formula kay sath plz samjha dijiay ga.

4) Kia Mutual Funds ki Earnings pay bhi tax hota ha or agar hota ha to kitna ya us main tax exemption ho sakti ha pls your guidance is requested in above mentioned queries.

Best Regards,

Thanks n Oblige

Answer 1

• National Savings = 15% WHT

  Bank = 20% WHT.

• Aapke 9 Million total profit par final tax 1.8M hai, jisme se 1.4M already deduct ho gaya, ab 0.4M aur dena hoga.

• Mutual Funds par bhi 15% tax hota hai (dividend & capital gain).