4/10/2015
GOVERNMENTOFPAKISTANCLARIFICATIONOFCIRCULARNO.2OF2006DATEDJULY1,2006LEVYOFCAPITALVALUETAX(CVT).
file:///C:/Users/salman/Desktop/Circulars/2006/CVT%20on%20Bank%20with%20Power%20of%20Attorneyor%20not%20Sep.%2014,%202006.htm
1/1
GOVERNMENTOFPAKISTANREVENUEDIVISION
CENTRALBOARDOFREVENUE****
No.F.4(1)ITP/2006CVT Islamabad,September14,2006
To:RegionalCommissionerofIncomeTax,CentralRegion,Multan.Subject:CLARIFICATIONOFCIRCULARNO.2OF2006DATEDJULY1,2006LEVYOFCAPITALVALUETAX
(CVT).
IamdirectedtoenclosecopyofemailreceivedfromBankAlfalah,Multan,whereinithasbeenbroughttothe
knowledgeoftheBoardthatRegistrationauthoritiesaredemandingCVTonmortgagedeedsexecutedbythebankingcompanies
withoutpowerofattorney.
2.ThematterhasbeenconsideredintheBoardanditisclarifiedthatregistrationofmortgagedeedinfavourofa
bank(withoutpowerofattorney)doesnotattractCVT.However,CVTwillbechargedatthetimeofactualtransferofasset,in
caseofdefaultinloanrepayment.
(SajjadAli)
Secretary(ITPolicy)Tel:9205561
CopyforinformationtoallRegionalCommissionersofIncomeTaxandDirectorGeneralsofLargeTaxpayer
Units.
Secretary(ITPolicy)
