Stock Market

The members of the stock exchanges are not entitled to take credit of the tax deducted under section 233A of the Income Tax Ordinance, 2001 where the shares traded are not owned by them. The Federal Board of Revenue on Saturday clarified that the members of stock exchanges would certify the quantum of tax withheld under section 233A of the IT Ordinance, 2001 from each person who traded through them for submitting statement to the relevant Director General of the (RTO).