Circular No, 08.01.0000.030.06.005 (part-01). 21/203 of NBR, on “Withdrawal of obligation to submit proof of filing of income tax returns to scheduled banks in respect of taking loans up to specified limits and credit card transactions” dated 18 September 2022.

The National Board of Revenue (NBR) has withdrawn the provision of mandatory income tax return certificate submission for obtaining loans and credit cards on a limited amount. According to the circular, an individual who has a tax-free income limit can get loans up to 19,398.64 USD from the scheduled banks without submission of a tax return certificate. Besides, credit card transactions up to 1,939.86 USD under the student category are also subject to the facility.