Ask a Question

Difference of FBR-IRIS Codes-64040051(Clause-151(1)(a)) & 64040052(Clause-151(1)(b)

0 votes
in Withholding Tax (WHT) by (40 points)
Whether Income Tax Ordinance clause 151(1)(b)-Tax (FBR-IRIS Code-64040052) applies to Bank Profits only for the amount not exceeding 5million, or this 5mil limit includes other National Saving Schemes profits/Prizes and National/Premium Prize Bond Profit/Prizes also, or both types would be declared in separate clauses.

Also want to get clarified, being confused, regarding difference of FBR-IRIS Codes-64040051(Clause-151(1)(a)) & 64040052(Clause-151(1)(b), as what type of incomes would be delcared under which clause?

1 Answer

0 votes
by (11.0k points)

The 5 million limit applies solely to the aggregated income classified as Profit on Debt under Section 7B (derived from 151(1)(a) through (d)), and does not encompass Prizes, Winnings, or Prize Bond profits, which are governed by Section 156.

Related questions

429 questions

439 answers

92 comments

1.8k users

Ask TaxationPk is a dedicated question-and-answer platform where individuals, professionals, and business owners can ask tax-related questions and receive accurate, timely responses from a knowledgeable community — including tax experts, practitioners, and experienced filers.

Whether you're confused about income tax, property tax, sales tax, withholding tax, digital services tax, or FBR compliance — this is the place to get clarity.

Ask your questions: Get answers on anything related to Pakistan’s tax laws, return filing, NTN, FBR notices, exemptions, and more.

Browse previous discussions: Explore a growing archive of commonly asked questions and expert answers, curated to help you learn from real scenarios.

Contribute and engage: If you’re a tax professional or an experienced filer, share your knowledge and support others in the community.

Advertise your business and grow your reach with premium ad space on our website.
Powered by eBrain
Launched by: TaxationPk
...