AIT on EFD lottery prize money withdrawn
THE National Board of Revenue has waived advance income tax on prize money of the electronic fiscal device lottery.
Income tax wing of the revenue board on Tuesday issued a statutory regulatory order saying that winners of the lottery would be exempted from paying 20 per cent advance income tax on prize money.
According to the Income Tax Ordinance-1984, AIT at the rate of 20 per cent is applicable to lottery prize money.
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