Income Tax Act 2023
Section 62 - Income from Financial Assets
(as updated till Finance Act 2024)
(1) The following income of a person shall be classified and computed under the head “Income from financial assets”, namely:—
(a) interest, profit or discount on securities issued or approved by the Government;
(b) interest, profits or discount of any other types of debentures or other securities by a local authority or a company;
(c) interest or profit due from the following sources, namely:—
(i) any amount, called by whatever name, deposited in a bank or 1[finance company];
(ii) any financial 2[asset,] product or scheme;
(d) dividend.
(2) Capital gain derived from transfer of financial assets shall not be included in the category of “Income from financial assets”.
1 The words “finance company” were substituted for the word “financial institution” by section 14(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
2 The word and comma “asset,” were inserted by by section 27 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
Disclaimer: This is the authentic English text of the Income Tax Act 2023, as published under SRO No. 404-Law/2025 dated 08 October 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.