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Tax on Prize Bonds & Bank Profit – Declare & File with FilerNow

Do you have Prize Bonds, Saving Certificates, or earn profit from bank accounts?

Then it’s important to declare this income in your annual tax return. FBR considers this “income from other sources”, and if not declared, it may lead to notices or penalties.

Let FilerNow handle your complete filing, from prize bond returns to profit-on-debt declarations — all while maximizing your savings!

Who Needs to File?

  • Individuals with profit from bank accounts (saving/current)
  • Holders of prize bonds, DSCs, NSS, or Behbood certificates
  • People earning Profit on Debt above Rs. 500,000/year
  • Non-salaried & salaried persons with investment income

Required Documents

  • CNIC copy
  • Bank certificate of annual profit earned
  • Prize bond/certificate details (if any)
  • Previous wealth statement (if available)

What FilerNow Will Do

  • Declare "income from other sources" (Section 39)
  • Adjust tax deducted by bank (Advance Tax u/s 151)
  • File tax return + wealth update
  • Ensure ATL status
  • Send you confirmation via WhatsApp/email
  • Talk to a Tax Expert Now
  • File My Bank Profit Tax Now
File My Prize Bond / Bank Profit Tax

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Frequently Asked Questions

1. Is profit on bank savings taxable in Pakistan? ▼

Yes. If you earn profit on savings, fixed deposit, or term deposit, it's considered Income from Other Sources under Section 39 of the Income Tax Ordinance and is taxable.

👉 See Taxable Income Types

2. Is tax already deducted by the bank enough? ▼

No. Banks deduct advance tax u/s 151, but you're still required to declare that income in your annual tax return. This also helps you get adjustments/refunds if eligible.

👉 File Your Tax Return with FilerNow

3. Do I need to declare prize bond winnings separately? ▼

Yes. If you've won a prize bond draw, it is fully taxable income and must be shown in your return under "Other Sources". FilerNow helps you declare this properly.

👉 Become a Filer Now

4. What if I don’t declare my bank profit or prize bond? ▼

FBR may:

• Flag your account
• Send notices
• Freeze refunds or apply penalties
• Mismatch with wealth statement

👉 Learn to Handle FBR Notices

5. Can FilerNow help with past undeclared bank profits? ▼

Yes! Even if you missed declaring past years' profits, we can revise your tax return, adjust your wealth, and bring you into compliance smoothly.

👉 Contact FilerNow for Help

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