I AM the proud owner of 200 Pakistan Telecommunications Company Limited (PTCL) shares that I acquired when they were initially floated.

Every year, I receive a dividend cheque for a rather insignificant amount that is further depleted by the deduction of zakat and income tax. This time too, a dividend amount of Rs200 had been announced, out of which Rs50 was deducted for zakat and Rs30 for income tax, leaving me with a cheque for the remaining amount of Rs120!

Last year, I raised the issue of these deductions with the company secretary of PTCL but received no answer. Now, through your esteemed pages, I would like to raise the issue and ask why these deductions are being made on such a paltry amount. Is there no minimum limit on which zakat and income tax deductions should be exempt and, if so, why not? Will someone from the PTCL or the Federal Bureau of Revenue care to respond?

Amjad Siddiqui

Rawalpindi

Published in Dawn, August 18th, 2017