Tax Deduction on Dividend Income
As per Section 150 of the Income Tax Ordinance 2001 and pursuant to Finance Act 2016, different rates of tax on Dividends for individuals investors have been introduced for “Filer“& “Non Filer” investors on investments other than equity funds. We understand that the principal account holder is the 100% holder of the investment in collective investment schemes managed by the Company and therefore the dividend will be processed accordingly to Filer/Non-Filer status of Principal Account Holder Only.
In case you understand otherwise then provide a duly signed letter latest by Tuesday June 20, 2017 indicating the holding proportions of the Principal & each joint holder and send to us at Sr. Manager Customer Services, Al Meezan Investment Management Ltd., Ground Floor, Block B, Finance and Trade Center (FTC) Shahrah-e-Faisal Karachi OR email us the scanned copy of the letter at firstname.lastname@example.org . In case of no response till June 20, 2017, it will be considered that holding or share of joint account holder(s) is zero / nil.
To download a copy of the letter, please click HERE. If you have any further queries, please feel free to contact your Investment Advisor or any of our customer service officers at our call center: 0800-HALAL (42525) or write us at email@example.com for details.