Home Education Pvt varsities have to pay 15 pc tax
Education - February 28, 2024

Pvt varsities have to pay 15 pc tax

Appellate Division

Court Correspondent : The Appellate Division has ruled that all private universities will have to pay 15 percent tax. The court gave this verdict by settling the appeal related to the collection of income tax at the rate of 15 percent by the government from the private universities.
The Appellate Bench headed by the senior judge of the Appellate Division Borhan Uddin passed the order on Tuesday (February 27) after settling the appeal. Attorney General AM Amin Uddin heard the state’s side in the court.
Senior advocate AF Hasan Arif appeared for the writ. After the verdict, Attorney General AM Amin Uddin said, we file leave to appeal against the High Court’s verdict.
There were 44 cases.After hearing these, the Appellate Division granted leave (permission to appeal).After the hearing of all those appeals, the verdict was delivered today.Tax collection is the daily task of running the state.
Taxes are levied on all as per the Ordinance.25 percent for individuals.There they (private universities) have been reduced to 15 percent. He also said that it has nothing to do with the students.VAT would have a relationship with students.Now the tax has to be paid by them (private university authorities), the owners.15 percent tax on income. Earlier, in June 2023, the Supreme Court upheld the order of the Appellate Division to refrain from collecting income tax until the appeal regarding the collection of income tax at the rate of 15 percent by the government from private universities is resolved.
At the same time, 46 writ petitions filed by various private universities regarding income tax collection were upheld in the High Court. On February 9, 2021, the Appellate Division gave permission to appeal (leave to appeal) against the judgment given by the High Court by declaring the government’s two notifications of collecting income tax at the rate of 15 percent from private universities illegal.
At the same time, NBR was directed to refrain from collecting this income tax until the appeal is disposed of.On June 28, 2007, the National Board of Revenue (NBR) issued a notification. According to the notification, income tax has been revised at the rate of 15 percent on the income generated by University Grants Commission approved private universities and other universities which are not public universities.It will be effective from July 1.
In another notification of NBR on July 1, 2010, it is said that the rate of income tax payable on the income generated by private universities, private medical colleges, private dental colleges, private engineering colleges or private colleges engaged only in information technology education, except public universities, has been reduced to 15 percent.Then 46 writs were filed by various private universities.

Check Also

Nothing to be worried over lowering growth projection by IMF:FM

Staff Correspondent: Finance Minister Abul Hassan Mahmood Ali has said there is nothing to…