Kathmandu. Banks have to pay tax on bargain purchase gains of mergers and acquisitions. Similarly, if bonus shares are given from the premium of FPO, then it has to be treated as income and tax has to be paid. The government, through the financial bill of the financial year 2080/81, had made arrangements to file income tax if bonus shares were issued from the bargain purchase gains of mergers and acquisitions and the premium of FPOs.

It was mentioned in the bill that if the bargain purchase gain of mergers and acquisitions is not filed as income by the end of November, 2080, the fee and interest charged for filing the tax will be waived.

"If the income from the bargain purchase gain (bargain purchase gain) is included in the income for tax purposes and is not filed for tax purposes, the tax on such income for the financial year 2078-79 will be waived if it is filed before the end of November 2080," in the bill. It was said.

Similarly, in the same bill, it was mentioned that if the bonus shares were distributed to the banks and insurance companies from the premium received from the FPO, if they did not file the tax by including the bonus shares in their income, the fees and interest will be waived while filing the tax until the end of November 2080.

The banks had filed a writ against the government saying that the government was trying to collect tax on capital and asking them to pay tax again when they had already issued tax payment certificates by adopting a bogus policy. Three writs were filed in the Supreme Court on the subject of the Finance Bill.

Although the decision was said to be on 20th of December, the case was pending on that day. With the Supreme Court canceling the writ, banks and insurance companies have to file taxes by the end of November. If the tax is not filed, fees and interest will be charged.