Lahore Real Estate Forum

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(76629)
Tuesday, October 18, 2016 06:30 PM PST 
Tax filer / Non filer

Dear Sirs,

I am working oversea and planning to make a transaction of around 15 mio for property purchase.
Since the bank charges Tax 0.6% for non filer and 0.3% for filer for any bank draft or cash
The Tax amount will be 90K for non filer and 45K for filer.

A bank employee informed me that follow the transaction as non filer and dont go for registration because govt/fbr will start sending you notices every year and will charge your fixed amount every year even you dont make any further transactions.

Please advise me; what is better option?

HussainD® replied on Wednesday, October 19, 2016 01:21 AM PST 

AoA,

I don't think that the bank employee's information is correct. There is no fixed amount for charges. However, you will be supposed to file your tax return every year to remain active on tax payer (filer) list. In my opinion, you are more likely to get notices about source of income if you are non-filer. I would personally go for filer choice. By the way, I am also an overseas and I am filer. I file my return every year and declare 0 income and pay 0 tax as I don' have income in Pakistan. It would be even better for you to consult a tax consultant in Pakistan to have a more authentic view.
Regards,

zeeshan replied on Wednesday, October 19, 2016 02:09 AM PST 

If you have a gud tax filer that wont happen and depends on source as well ...

NT replied on Wednesday, October 19, 2016 12:34 PM PST 

For filer there is no tax (0.3%) if they make payment through cheque/pay order. Secondly this is my third year as a filer & I never received any notice.

Ibrahimdxb replied on Wednesday, October 19, 2016 04:37 PM PST 

Asif Sahib: since you are overseas and source is foreign remittance. please become a filer and there is no issue of FBR. there will be no income tax on your return but only you have to pay Rs.3000 etc to income tax wakeel for submission of your income tax return on line. you will have more benefits as filer in case of buying or selling etc.

Me also an overseas and did same (become filler) and on property transactions I saved hundreds of thousand due to filer only without paying any income tax for the last so many years. Don't listen to banker etc. even in banks transactions there is much more benefits for fillers than non fillers. thanks

Siddique® replied on Wednesday, October 19, 2016 05:09 PM PST 

I am a volunteer filer from last 3 years on FBR portal, and i never had any such notice so far.

MMM replied on Wednesday, October 19, 2016 07:30 PM PST 

No WHT is charged for bank draft for filers. Also 0.3% deducted on cash withdrawals above Rs. 50,000 per day which is also refundable/adjustable by the filer.

FAROOQ Ahmad replied on Thursday, October 20, 2016 11:41 AM PST 

Dear Ibrahim Sb, We would appreciate if you please give us the
contact no of your tax Lawyer who charges Rs 3k. I would like to avail his services. Regds.
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(76628)
Tuesday, October 18, 2016 04:57 PM PST 
LRE Inventory 18 October, 2016

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(76626)
Tuesday, October 18, 2016 01:39 PM PST 

State Life Phase 2 Plots For Sale


JJ Plot # 699 @ 29 Lacs Very Good Location ( Attractive Deal ).


BB Plot # 927 @ 31.50 Lacs Located at 100 feet Road.


For Best Buying Selling In State Life Phase 2 Plz Contact.




Saeed Rafique

+923224333661


Lahore Real Estate

Email:INFO@LREPK







:forsale:
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(76625)
Tuesday, October 18, 2016 01:38 PM PST 
Cur Rate

Dear LRE team,

Could you please evaluate the following Commercial plots:

Phase 6C, CC2 PLOT NO. 241, 4 Marla Comm

Phase 6C, CC2 PLOT NO. 213, 4 Marla Comm

Thank you very much

Rahat Ali
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(76623)
Tuesday, October 18, 2016 03:17 AM PST 
DHA Lahore Phase 9 Prism Plots For Sale

DHA Lahore Phase 9 Prism Near Plot No.121 Block A At 105 Lacs(1 Kanal)
DHA Lahore Phase 9 Prism Near Plot No. 366 Block A At 105 Lacs(1 Kanal)
DHA Lahore Phase 9 Prism Near Plot No.625 Block A At 125 Lacs(1 Kanal),

DHA Lahore Phase 9 Prism Near Plot No. 751 Block P At 88 Lacs(1 Kanal)
DHA Lahore Phase 9 Prism Near Plot No. 933 Block P At 96 Lacs(1 Kanal)
DHA Lahore Phase 9 Prism Near Plot No. 879 Block P At 126 Lacs(1 Kanal), Corner, 80 Ft Road
DHA Lahore Phase 9 Prism Near Plot No. 178 Block P At 115 Lacs(1 Kanal)
DHA Lahore Phase 9 Prism Near Plot No. 294 Block P At 120 Lacs(1 Kanal)
DHA Lahore Phase 9 Prism Near Plot No. 628 Block P At 90 Lacs(1 Kanal)
DHA Lahore Phase 9 Prism Near Plot No. 514 Block P At 105 Lacs(1 Kanal)

DHA Lahore Phase 9 Prism Near Plot No.786 Block Q At 122 Lacs(1 Kanal),
DHA Lahore Phase 9 Prism Near Plot No.206 Block Q At 115 Lacs(1 Kanal),
DHA Lahore Phase 9 Prism Near Plot No. 623 Block Q At 100 Lacs(1 Kanal),
DHA Lahore Phase 9 Prism Near Plot No. 06 Block Q At 116 Lacs(1 Kanal),

Price Range Of DHA Lahore Phase 9 Prism Residential Plots:


For DHA Lahore Prism 9 Map:
http://www.lahorepakistan.net/maps/DHA-Lahore-Phase-9-Map-Prism-9.html

For Best Buying And Selling In DHA Prism 9 Please Contact:

Mian Fawad Ahmad
Lahore Real Estate
Cell: +923024489001 (Whatsapp, Viber, Line)
e-Mail: INFO@LREPK.Com
:forsale: :forsale: :forsale:

Waqar khan replied on Tuesday, October 18, 2016 07:51 AM PST 

Do you have any confirmed commercial available in phase 9 prism zone 1 8 Marla on 150 foot road
How is availibility of commercial in prism
Thx

Lahore Real Estate replied on Tuesday, October 18, 2016 01:30 PM PST 

Dear Mr Waqar,

Kindly
contact Salman Maqsood +923224009967.



Lahore Real Estate
Email:INFO@LREPK.COM
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(76621)
Monday, October 17, 2016 11:45 PM PST 
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(76619)
Monday, October 17, 2016 08:46 PM PST 
Prism9 R block Plot No 1752 Evaluate Price

Dear Gentleman
Kindly evaluate the price of Prism 9 Block R Plot No :1752 and advice about this plot location shall I keep it or sale it , what is the market trend of prism now specially for R block and its development presently in which phase.
regards

Lahore Real Estate replied on Monday, October 17, 2016 09:00 PM PST 

Dear Sir,

Your plot near R 1752 is around 37 lacs ( With previously due installments paid).

Its right time to sell choice is yours.



Mian Waqas
+
Lahore Real Estate
Email:INFO@LREPK.COM
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(76618)
Monday, October 17, 2016 07:22 PM PST 
Change in Bahria Orchard Map?

Is there any change in map of bahria orchard for D block? Few months back, D-ext was launched and it is being developed. But recently i visited the site but it seems that development is not as per map e.g. road of 40 feet seems to be more than 40 feet. Same things can be observed regarding last triangle of 5 marla plots of D block e.g. park at the start of this triangle can not be seen on development. I called the bahria town but as usual got not satisfactory reply. Does any body has any update?

Hashim® replied on Tuesday, October 18, 2016 04:28 PM PST 

Mr. Awan can better guide you on Bahria Orchard Map. But definitely progress of works on D Extension has been improved and people are saying that Bahria has acquired more land near to D Extension.
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(76617)
Monday, October 17, 2016 05:49 PM PST 
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(76616)
Monday, October 17, 2016 05:03 PM PST 
LRE Inventory 17 October, 2016

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(76615)
Monday, October 17, 2016 04:43 PM PST 
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(76614)
Monday, October 17, 2016 02:52 PM PST 

Dear LRE, when are we likely to get possession of Z1 in Phase 7?

Thank you

Lahore Real Estate replied on Monday, October 17, 2016 06:01 PM PST 

Dear Sir,

Phase 7 Z1 will get possession after 1 year.



Lahore Real Estate
Email:INFO@LREPK.COM
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(76613)
Monday, October 17, 2016 03:26 AM PST 

Today I visited Bahria EMC. At the end of B block, I saw a lot of homes being constructed simultaneously. I got a feeling they are like Bahria Homes/Model Houses or something because the pace was very fast. A lot of work being done.

Does anyone have idea about it? I mean, what are they and what is their anticipated launch price? Future of this society? Pretty good?
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(76612)
Monday, October 17, 2016 01:21 AM PST 
DHA 5 BLOCK M

Dear all
Is the development of 5 M block completed? Can anyone share the latest status of development and pictures, if possible?
Thankx
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(76610)
Monday, October 17, 2016 12:52 AM PST 
Disappointing Response from Goverenment

Hum to dobain gay sath tumhay bhi lay doobain gay !!

Pakistan® replied on Monday, October 17, 2016 12:56 AM PST 

still all these amnesty schemes or hearsay of govt taking back all tax initiatives is just hoax

taxes are here to stay.... buckle up

Observer replied on Monday, October 17, 2016 02:05 AM PST 

Govt is going to curtail FBR role/involvement in property trasactions and they will announce it very soon.
Secondly Govt. is going to revise property valuations downward in the same move to revive this sector.
So after these two major changes no tax

Observer replied on Monday, October 17, 2016 02:06 AM PST 

So after these two major changes no tax amnesty would be required in pricipal

Observer replied on Monday, October 17, 2016 02:10 AM PST 

in a meeting held at governor house LHR last week nawaz sharif assured the stake holders that soon powers pertaining to section 111 of incometax ordinance will be withdrawn from FBR relating to real estate sector.

M Arshad Ali® replied on Monday, October 17, 2016 02:45 AM PST 

Khush gumaaniaan

Bilal® replied on Monday, October 17, 2016 03:20 AM PST 

Its imposed by IMF. Govt n NS want more n more loan so they have no choice but to obey IMF. Who cares about pakistan and pakistani awam.

Observer replied on Monday, October 17, 2016 11:31 AM PST 

chalo theek hai.keep weeping👍

Observer replied on Monday, October 17, 2016 11:45 AM PST 

https://www.google.com.pk/amp/www.dawn.com/news/1290008/govt-taking-steps-to-limit-deficit-to-38pc-imf-assured/amp

Observer replied on Monday, October 17, 2016 11:49 AM PST 

this is actual news ☝ published on 15th october 2016. where is real estate mentioned in it?

Observer replied on Monday, October 17, 2016 11:55 AM PST 

Updated Oct 15, 2016 10:56am
Govt taking steps to limit deficit to 3.8pc, IMF assured
KHALEEQ KIANI
Welcome
ISLAMABAD: With revenue slippages in the first quarter of this fiscal year, the government has pledged to cut current and capital expenditures and take ‘additional measures’ to recoup revenue shortfalls and limit fiscal deficit within committed 3.8 per cent of GDP.

The undertaking has been given to the International Monetary Fund (IMF) that would continue to have closer monitoring of Pakistan’s economic and fiscal policies until its full loan repayments. The authorities are believed to have missed the first quarter (July-September) revenue target by over Rs100 billion.

In consultation with the IMF, the government had set a fiscal deficit limit of 3.8pc of GDP, excluding foreign grants for 2016-17 and including a 0.3pc of GDP (more than Rs100bn) for security and resettlement of internally displaced persons. Pakistan will remain under post-programme monitoring (PPM) because it availed more than 200pc of its quota in loans from the IMF.

“Against the backdrop of slower growth in the collection of the Gas Infrastructure Development Cess (GIDC) and federal non-tax revenue, we will manage budgetary spending very prudently and reduce non-critical current and capital expenditures as necessary to achieve our fiscal deficit target. In case of any further deviation, we would take additional measures in order to achieve our revenue and budget deficit targets,” Finance Minister Ishaq Dar committed in writing to the IMF.

He said the government would continue a steady pace of fiscal consolidation to further strengthen public finances and improve debt sustainability. The fiscal policy strategy would continue to aim to bring the budget deficit to a sustainable level through revenue mobilisation and expenditure rationalisation to rebuild fiscal buffers against shocks, put the debt-to-GDP ratio on a downward path, and increase growth-enhancing and poverty-alleviating expenditures.

The minister said the energy subsidies had been reduced by about 1pc to 0.6pc of GDP over the three-year period that would be further curtailed to 0.4pc. “We will lower energy subsidies to 0.4pc of GDP and continue to rationalise current expenditures across all layers of the general government, while continuing to increase targeted social assistance in real terms and further improving the share of development spending,” the minister said.

At the same time, Mr Dar also assured the fund of strengthening inter-governmental fiscal policy coordination to ensure the sustainability of public finances. Given the extent of devolution in revenue and expenditure assignments, strengthening fiscal policy coordination (FCC) across all layers of the government would be continued through quarterly meetings of the FCC committee of federal and provincial finance secretaries.

The government also told the government to seek an agreement with provinces to balance devolution of revenue and expenditure responsibilities in a way that allows for internalising the objectives of macroeconomic stability and fiscal sustainability across all layers of the general government.

“To this end, we are encouraging provincial governments to enhance their own revenue mobilisation by bringing underdeveloped tax bases such as agriculture, services, and property, more effectively into the tax net and improve taxpayer compliance with a particular focus on identifying misdeclarations in agricultural income,” the finance minister said.

“Despite the progress, the full potential of the tax system has still to be realised and requires to generate additional resources… we will refrain from granting concessions, exemptions and any form of amnesty, enhance tax policy measures, and accelerate administrative reforms aimed at broadening the tax base and modernising our tax system,” he said.

Published in Dawn, October 15th, 2016

ShahzadQamar® replied on Monday, October 17, 2016 02:25 PM PST 

Daar saab never look back after taking decisions, no matter how bad will it bring for people of pakistan in future.

User_PK9549® replied on Tuesday, October 18, 2016 03:43 AM PST 

Finance Minister Ishaq Dar has said that the government will address concerns of the real estate sector on a priority basis, states a news report.
According to details, Dar agreed that fair market rates quoted by the Federal Board of Revenue in its valuation tables are much higher than the DC rate and said that valid concerns of real estate stakeholders about the difference in rates will be addressed.
He also made it clear that real estate taxes will not be calculated on the basis of two different rates.
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