Property Tax game
Through Finance Act, 2012, CGT on immovable property has been introduced for the first time, which definitely works as an additional revenue generating measure. The gain on sale of such property within two years of acquisition shall be taxed in the laid down manner: Where the holding period of immovable property is up to one year, the rate of tax would be 10 percent and where the holding period of property is more than one year but less than two years, the rate of tax would be 5.0 percent.
There are four copies of transactions documents which has to be send ……..
One copy has to be sent to register authority and one copy will be sending to seller and purchaser and
One copy has to be sent RTO and FBR will Avulate the market value of property
The state Bank of pakistan will appointment a vaulator person to vaulte property
Let see new game will open ……….?