Section 88A: Tax withholding in windfall gain

1) Tax shall be withheld at the rate of twenty-five percent in making a payment for a windfall gain.

Provided that the Government of Nepal may, by notification in the Nepal Gazette, provide an exemption from levying wind-fall gain tax on the national and international awards for contributions made to literature, art, culture, sports, journalism, science, technology and public administration.

2) Notwithstanding anything contained in sub-section (1), no tax shall be levied on national and international awards of up to five hundred thousand rupees for contributions made to literature, art, culture, sports, journalism, science, technology and public administration.