ISLAMABAD – The State Bank of Pakistan (SBP) currently issues four denominations of national prize bond of different value – Rs100, Rs200, Rs.750 and Rs1,500.
The Central Directorate of National Savings (CDNS) conducts prize bond draw at its offices across the country and the public is allowed to attend it. Winning prize bonds are drawn through Hand Operated Draw Machine.
It offers first, second and third prizes for each denomination with top winners bagging a significant amount.
The draws are held by CDNS regularly around the year. The next prize bond draws are scheduled for February 17, with the Rs1,500 draw taking place in Multan and the Rs100 draw in Rawalpindi.
As per the rules, the winners of the prize bond draw are also liable to pay certain tax on the winning amount.
Withholding Tax (WHT_ on prize money is dedicated under Section 156 of Income Tax Ordinance 2001. The prevailing rates are 15% for filers and 30% for persons not appear in the Active Taxpayers List, irrespective of the date of draw.
Previously, the draw of prize bond Rs750 was held in Karachi. According to the results, the first prize of Rs1,500,000 was won by bond number 271541. Three second prizes of Rs500,000 each were bagged by holders of prize bond numbers 317904, 496553, and 800663.
