Lahore Real Estate Forum

Sunday, August 9, 2026 12:32 PM
Total Records: 99161   Records Viewed Per Page: 20
(75368)
Monday, August 1, 2016 02:30 PM PST 
Knowledge Park, A booster for Prism 9 and Phase 7

>
(75366)
Monday, August 1, 2016 02:09 PM PST 
>
(75365)
Monday, August 1, 2016 02:08 PM PST 
>
(75364)
Monday, August 1, 2016 01:36 PM PST 
>
(75361)
Monday, August 1, 2016 11:17 AM PST 

Surprise Half tax also for overseas Pakistanis. Hurrrey


:pkf :cl :cl :cl :cl :cl :pkf

Farhan® replied on Monday, August 1, 2016 11:31 AM PST 

CMY Sb it says ordinance will be applicable for 4 months. What does it mean?

Pakistan® replied on Monday, August 1, 2016 11:50 AM PST 

in these 4 months, it will be passed from assembly and senate to make it formal law

as mentioned in article

CMY replied on Monday, August 1, 2016 12:03 PM PST 

[7/31, 10:51 PM] DW +92314... : Aur DC rate main 200 se 300 % ka izafa kahan gaya

[7/31, 10:55 PM] Choudry Mujahid Yasin USA: That was for FBR rates gain from DC rates. DC rates increasing only about 35%

[7/31, 11:01 PM] Choudry Mujahid Yasin USA: FBR rates will be market rates but capital gains tax will be charged on half of marker rates for tax calculations this year. 75 percent of markert rates to be used next year for capital gains tax etc and on third year FBR will use full market rates amount for capital gains tax use. This is going to be done not to severely hurt real estate markets now.

Not Registered Yet 0755 replied on Monday, August 1, 2016 01:04 PM PST 

This half rate concession is applicable on all properties except DHA. So for DHA all including overseas will have to pay full. :)

AHMAD HASSAN® replied on Monday, August 1, 2016 01:39 PM PST 

This is very good news for overseas Pakistanies.

Farooq replied on Monday, August 1, 2016 02:17 PM PST 

Overseas Pakistanis; don't be happy. It means only those overseas Pakistanis who will get plots government schemes under overseas pakistanis quota. So chill and ready to pay tax as others.

ShahzadQamar® replied on Monday, August 1, 2016 06:05 PM PST 

CMY, now that is the real solution. I had my biggest concern on this abrupt jurky landing that I believe is resolved now based on your aforementioned comment to implement it in 3 years. And secondly third party valuation is also null and void now, no matter if market value is defined 2 to 3 times of DC rate but as decided it shall be crystal clear to everyone.
Taxes can be absorbed by market but the open door of corruption for market valuation was really a bad decision and its reversal now shall definitely bring positive impact on real estate.
>
(75360)
Monday, August 1, 2016 07:04 AM PST 

اسلام وعلیکم: کچھ لوگ ٹیکس کے بارے میں غلط اطلاعات شئرکر رہے ہیں۔اس غلط فہمی کو دور کرنے کیلئے تفصیل کے ساتھ لکھ کر شئرکر رہا ہوں۔مہربانی فرما کر اچھی طرح پڑھیں،سمجھیں اور زیادہ سے زیادہ شئرکریں تاکہ دوستوں کی غلط فہمی دور ہو سکے۔ شکریہ

سب سے پہلے پراپرٹی کے خریدنے پر خریدار پرانے طریقے سے ہی ٹیکس دیگاصرف نئے ریٹ میں ہمارے گردونواع کے ٹاؤنز میں پرانے ڈی سی ریٹ میں بیس فیصد اضافہ ہواہے مثلاً جوہرٹاؤن کا پرانا ریٹ 390000/فی مرلہ تھا اب 468000 فی مرلہ ہو گا۔ اب فروخت کنندہ پہلے کی طرح نئے ریٹ پر گین ٹیکس ایک فیصد فائلر اور دو فیصد نان فائلر اور خریدارایڈوانس ٹیکس دو یا چار فیصد دیگا، باقی صوبائی ٹیکس (اشٹام ،سی وی ٹی وغیرہ) پرانے ڈی سی ریٹ پر جمع کرائے گا۔
تیس جون سولہ سے پہلے خریدی گئ پراپرٹی تین سال سے پہلے فروخت کرنے پر صرف پرافٹ پر پانچ فیصد کیپیٹل گین ٹیکس ہوگا اور اس طرح پانچ فیصدادا کرکے وہ پرافٹ والی رقم بھی وائٹ منی ہو جائیگی ۔

یکم جولائ سولہ کے بعد خریدی گئ پراپرٹی کو تین کے بعد فروخت کرنے پر کوئ ٹیکس نہیں ہوگا اگر تین سال سے پہلے فروخت کرتے ہیں تو پہلے سال فروخت کرنے پرافٹ کا دس فیصد،دوسرے سال ساڑھے سات ، اور تیسرے سال پانچ فیصد کیپیٹل گین ٹیکس دینا ہوگا اور پرافٹ والی رقم وائٹ منی ہوگی۔


۔اب ایڈوانس ٹیکس یا ود ہولُنڈنگ ٹیکس تیس لاکھ کی بجائے چالیس لاکھ پروصول ہوگا
شکریہ

CMY replied on Monday, August 1, 2016 07:32 AM PST 

Thanks for Urdu typing by a frien.

FAA.awan® replied on Monday, August 1, 2016 07:32 AM PST 

Thank you so much CMY sb.I am also telling the same story to our friends on this forum.But I do n't know why the people are extra disturbed.Soon everybody will be cool and calm l believe.

CMY replied on Monday, August 1, 2016 09:59 AM PST 

Answer to LRE 36 Gulf WhatsApp friends group



*FAQ How much capital gains tax and when due?*

Few friends still confused after my very clear 2 detailed message today so a running a third message today. Advance sorry after this I won't have enough energy to answer more tax message today in all WhatsApp groups. InshaAllah after more details DC rates and FBR values notified we will have detailed audio on this subject.

No CGT tax due for seller if property held for more than 2 years and transfered before July 1st 2016.

From July 1st 2016 further transfers purchases if property was held more 3 years no tax.

If property purchased before July 1st 2016 but you sell it now any time after July 1st 2016 within 3 years from date of purchase your special capital gains tax will be flat 5%.


If purchased after July 1st and sold within 12 months 10 % tax and 24 months tax will be 7.5% and within 36 months CGT will be 5% after 36 months ZERO CGT

*TIP of the day*

Actually sellers got a big break in new capital gains tax. Before July 1st they were bound to pay 10% on gains if property sold within 12 months of purchase. Now you got a special rate of just 5% to pay for Upto 3 years from date of purchase so Don't sell till just before 3 years time. Not only you get special rate all your gains will be white money to invest in future.



Can't explain it more easily than that.

AKHTAR® replied on Monday, August 1, 2016 10:06 AM PST 

Thanks CMY sahib

HassanHC® replied on Monday, August 1, 2016 10:12 AM PST 

CMY Saab many of our friends are unhappy why we got quiet fair deal. They know inshallah market will bounce back but are in denial. Let time decide. Let's wait inshallah these pessimistic will soon be buying plots and not sit on the fence for long. I wish all the best I hope they get good deal as rates will bounce.

ahmad replied on Monday, August 1, 2016 01:55 PM PST 

Do 20% increase in DC value has been declared?

Saagar replied on Monday, August 1, 2016 02:15 PM PST 

CMY saab, most of us appreciate the efforts of our representatives who made this workable and logical deal with the Govt. We are happy that our hard earned White money would remain White during buying selling deals. No one ever made such efforts as now made by our real estate representatives and the Govt. We don't want our money to be called Black. We just need White money, may it be less, and thats it.

AHMAD HASSAN® replied on Monday, August 1, 2016 02:50 PM PST 

Dear CMY, As you also mentioned in WhatsApp message and all are also convinced that if one buy & sell property in same fascial year then technically gain will be zero and all money on top of that will be white. And if we start to write orginal deeds then we are going put us & dealers in trouble because of FBR reputation and addiction of bribe. I am still not convinced with this logic that GOVT left such loop or FBR will keep eye closed. One of my coleague from Karachi recently received a notice from FBR in which FBR inquired him about source of income that he is using to pay plot of Bahria Karachi installments and cash he is keeping in Pakistan bank account. He is not the one there are many too served with such notices. As an evidence I am sharing following link with you.

http://www.pkrevenue.com/exclusive/fbr-issues-notices-to-property-investors-in-bahria-town/

In my opinion, we should wait for detailed document and notification to come out then need to understand procedure from tax/legal consultants. We all want business as usual and benefit ourselves as well as GOVT.
>
(75359)
Monday, August 1, 2016 06:27 AM PST 
i dont know why people are so happy

I dont understand why people are so happy with the deal .

actually, its a big win for Govt. they made all stake holders/ so called dumb negotiators fool !!

very good tactics by GOVT here , all dumb neogatiors had no clue .

GOVT achieved huge deal with inc the Fair Market value and inc time frame to 3 years

Where is the win here for Stake holders ??/

Tahir Islam Bokhari replied on Monday, August 1, 2016 06:59 AM PST 

Dear Doctor Sb,

Its really a winning situation for the investors under the current situation.

Fair Market Value is better for you as a tax payer rather than current DC Rates. You would not pay any Gain Tax if you buy and sell s property in the same financial year as Fair Market Value will remain the same. Gain Tax is imposed on the difference between Purchase and Sale
Prices.

But if you wish to maintain DC Rates, then more of your white money will become black as you would be posing to buy and sell your property at (less) DC Rates rather than Fair Market Rate.

The real issue is not the New Tax Rates, as they would not make much difference as compared to Previous Tax Rates. But the real issue is the confusion among investors regarding additional amount of tax they would have to pay in a single property transaction.

Fortunately, the new agreement with Govt. has cleared the dust, and the situation remained almost the same with just a little more taxes.

But unfortunately, due to ill informed discussions by some of the members is maintaining and creating further confusion. I would request my friends to avoid adding confusion based on assumptions and unfounded apprehensions.

MIT® replied on Monday, August 1, 2016 07:49 AM PST 

@'doctor' I do value your opinion but what is holding you not registering yourself because who knows who is who; anyone can.......

Goraya replied on Monday, August 1, 2016 08:50 AM PST 

@Tahir Islam Bokhari. Thanks for your fair assessment. Hopefully, people who want confusion to persist till general election, will get guidance.

Doctor replied on Monday, August 1, 2016 09:43 AM PST 

Well said Tahir Bokhari !!

It helps clear my confusions too

HassanHC® replied on Monday, August 1, 2016 09:58 AM PST 

Yes ppl want clarity rest in Pakistan ppl have money they just don't want to deal with grey area and human intervention. Still Pakistan real estate has given ver good returns and has lots of opportunities. Every one will get level playing field no ambiguity and long term investor and short term trader who sells within one year will be happy with the outcome.

Jahanzeb Saleem replied on Monday, August 1, 2016 10:33 AM PST 

I agree with Mr.Bokhari views as now investor has to pay some additional amount in the form of taxes but will be able to convert less of money into black money due to introduction of Fair Market Values.In my opinion much of the dust has been settled and normal business activity will be started from today as the govt is avoiding any further delays. So friends lets move on and dispel misconceptions and hasty conclusions.

Tahir Islam Bokhari replied on Monday, August 1, 2016 05:02 PM PST 

Thanks brothers for your supporting comments. I would encourage people in this forum to try understanding the situation, which is actually quite positive.

The problem is actually the unfounded and ill-informed negative remarks, and in fact sentiments of the people are far more important than a very little/negligible increase in tax rates.
>
(75358)
Monday, August 1, 2016 06:14 AM PST 
>
(75357)
Monday, August 1, 2016 05:18 AM PST 
Introducing Fair Market rates real win for the Government

I think the government played its hand cleverly and used the age old tactics of inserting some clauses that it planned to withdraw in the first place i.e. like state bank evaluators, high CG rates at smaller year duration, etc. In return, they fooled their counterparts by introducing notification of fair market rates by FBR !!!! This is their real win. They will determine the market price for federal taxation rather than rely on dc rate which could not be increased too much since provincial governments need to acquire land from public at these rates. We all know FBR is more corrupt than state bank itself. So what is the advantage gained by real estate negotiators in this? I fail to understand.
Percentage could be small this year, but they will keep increasing the percentage in the later years. This is what this government does best. The real estate negotiators should have outrightly rejected any market price determination by FBR and stood their ground on using dc rate as the basis for all calculations.

User_6006® replied on Monday, August 1, 2016 05:18 AM PST 

As a new comer and student into property trends i can clearly tell you what is going on and near future ,
Govt clearly made up mind to distribute public investment into other sectors like small business , commodities , saving schemes , bonds .
Current taxes settlement will add further backward pressure on market , because it's still high taxes , govt tricked us by imposing so high and than minimising it to what they have real in mind
Property works on it's cycle , with 2011 recovery to 2016 boom , market is going into slump natural phase , no matter of how much govt investing in lahore , in slump phase plot remain of same value even given possession
With less buyer in future nothing good i can see , beside govt should strengthen this sector to survive slump acted against it
Agents/dealer trying their best to keep moving things but they will and public taste repeating history from .

User_6006® replied on Monday, August 1, 2016 05:37 AM PST 

Govt complicated things a lot , so many bad news about it on media , over discussion etc ,only resulted into loss of trust into property sector , govt in haste and greed of more taxes or in try of moving people towards other flop sectors successfully shake trust of people from property , it will hurt investor a lot , till next elections property market will see genuine buyers only , investor already started moving abroad , or in other sectors . welcome bad phase , more seller hold more he loose now

doctor replied on Monday, August 1, 2016 06:20 AM PST 

I fully agree with you ;

they made every one fool here. their whole idea was to enforce FMV and inc DC rate to get more taxes and inc limit of CGT to 3 year holding !!!

real estate dealers/ stake holders were absolutely made fool

SIM replied on Monday, August 1, 2016 11:23 AM PST 

In my opinion 4% advance tax on fair market value will be the biggest problem. If you buy a commercial plot worth 10 crores, you will have to pay 40 lacs as advance tax only. Which previously was negligible on DC rates.
Karachi dealers have already rejected the deal and announced protests. I think big win for Govt.

HassanHC® replied on Monday, August 1, 2016 11:31 AM PST 

Lahore dealers have accepted as here DC rate was not hugely different. Sir Jee it's refundable when you file taxes. Plus will be adjusted against any other tax due. Also non filer if
files tax can get it back. All in all go to zameen forums most of the dealers are looking confident and relieved.

HassanHC® replied on Monday, August 1, 2016 11:31 AM PST 

Lahore dealers have accepted as here DC rate was not hugely different. Sir Jee it's refundable when you file taxes. Plus will be adjusted against any other tax due. Also non filer if
files tax can get it back. All in all go to zameen forums most of the dealers are looking confident and relieved.

Szaidi® replied on Monday, August 1, 2016 01:17 PM PST 

It is a good win for Govt. Beside increasing tax rates they have taken power to decide market rates every year. So now every year market rates will be increased. Also power to decide market rate will be in the hand of FBR instead of SBP. SBP would be much fair as compared to FBR. Now FBR will use tactics of increasing market rate every year for some higher value and after protest of dealers and people they will give discount of few percent. So it will be win-win situation for Govt. But in spite of all overseas Pakistanis has no other choice but to invest in property. So growth will still be seen in property market.

Tahir Islam Bokhari replied on Monday, August 1, 2016 03:37 PM PST 

Dear Friends, the Govt. can only win if the investors will also win, otherwise the Govt. will be a bigger looser as it has already been proved in the last one month when several times less tax has been collected compared to previous months.

But I think that the confusion among people is a bigger issue than the taxes . Its actually a winning situation for the investors also under the current scenario.

Fair Market Value is better for you as a tax payer rather than current DC Rates. You would not pay any Gain Tax if you buy and sell s property in the same financial year as Fair Market Value will remain the same. Gain Tax is imposed on the difference between Purchase and Sale
Prices.

But if you wish to maintain DC Rates, then more of your white money will become black as you would be posing to buy and sell your property at (less) DC Rates rather than Fair Market Rate.

The real issue is not the New Tax Rates, as they would not make much difference as compared to Previous Tax Rates. But the real issue is the confusion among investors regarding additional amount of tax they would have to pay in a single property transaction.

Fortunately, the new agreement with Govt. has cleared the dust, and the situation remained almost the same with just a little more taxes.

But unfortunately, due to ill informed discussions by some of the members is maintaining and creating further confusion. I would request my friends to avoid adding confusion based on assumptions and unfounded apprehensions.
>
(75356)
Sunday, July 31, 2016 11:43 PM PST 

Dear CMY Sahib
Any chance of up rise Dha 9town in august

Please regard

yes replied on Sunday, July 31, 2016 11:57 PM PST 

Yes sir" 9town and prism.

Tahir lutfi replied on Sunday, July 31, 2016 11:59 PM PST 

All properties will be stagnant or will on downward direction so the same rule will be for DHA town

Yes replied on Monday, August 1, 2016 12:02 AM PST 

Dha town prism or all 5 Marla will be real gainers.
Under 40 lacs exempted and every one in media thinks it's a win for Realestate.

prism replied on Monday, August 1, 2016 12:26 AM PST 

prism fundamentals are strong i.e.

*Development started
*LRR will complete within one year
*Superb
location
*Unique development feature like theme park, oval complex etc
*Good for investment as well as for end users intending to construct after 4 to 5 years

Kureshi® replied on Monday, August 1, 2016 05:12 AM PST 

Awan Sb , I am also surprised to see so much negativity on this forum and that too from some very nice persons. I guess this tax matters has gone on people nerves.

Guys , stay positive. Alot could have gone worse. We are still better off. Soon dust will settle and we will be getting investment tips from experts.

Adnan_Ali® replied on Monday, August 1, 2016 05:14 AM PST 

you are right FAA.awan sb and 1 clarification that If there is any property whose Market value is for example 55 lakh but its FBR specified value is less than 40 Lakh, it would be considered in Range of less than 40 lakhs so no extra WHT/CGT would be applied in such cases. so in many cases , 10Marla and even in some societies 1 Kanal plot holders will take its benefit.

FAA.awan® replied on Monday, August 1, 2016 05:52 AM PST 

I agree with Kureshi sb and Adnan Ali sb.Within a few days rate lists will be available and each and everything will be cleared.

HassanHC® replied on Monday, August 1, 2016 10:19 AM PST 

Awan Saab and Kureshi Saab. Ppl here dont know that we were critical of the government when they did that in June initially. But if we are now relieved and think it was the second best outcome. I don't know why ppl not happy. All big estates are supporting this. There own crores invested. We ourselves have stakes. We are also relieved. May be ppl want to confuse others but they know that this deal is not perfect but not bad.

Akmal replied on Monday, August 1, 2016 01:22 PM PST 

All 5merla plot a jump in few weeks.
Insha Allah
>
(75355)
Sunday, July 31, 2016 10:46 PM PST 

A gift for military men on pressure I created on several social media and other sources

HassanHC® replied on Sunday, July 31, 2016 11:31 PM PST 

Yes good news Mashallah

Every one who wants to compare other options.


On trading stocks gains tax % in Pak
On business income tax in Pak more then 30 %
On job salary income tax more then 30%

India gains tax on stock 20%
India gains tax on Realestate 20% within 3 years

Dubai why will you invest as slow real estate market recession

Saving account in bank these days only 5% and consider hram
Gold you will buy but it's not guaranteed as up or down

Buying EURO POUND after Brexit so much volatility no charm.

Still real estate is most safe and secure and good gains also.
Therefore I am positive and I feel inshallah market will be upbeat.

Ammar® replied on Monday, August 1, 2016 01:01 AM PST 

I am not against Army but i am sorry to say that in Pakistan every rule is made for powerful people.
Army can force government to amend laws for them but no one is going to raise voice in support of common man.....

Irfan replied on Monday, August 1, 2016 02:13 AM PST 

Please dont give the example of Canada to misguide the peoples. Tell the peoples complete story. There is no comparison between Pakistan and Canada. Not at all. Is there any buying rebate in Pakistan? Ever somebody got any return money from FBR without Bureaucrat uncle?
The biggest difference is FBR itself. There is no FBR in Canada.
FBR involvement means increasing corruption. If your uncle is govt officer than you dont worry. FBR is the most dangerous and harmful for Pakistan.

AHMAD HASSAN® replied on Monday, August 1, 2016 04:02 AM PST 

Dear Hassan, Dubai market last year growth is 22.4. Only in July new 317 buyers registered.

Dubai is slow replied on Monday, August 1, 2016 04:58 AM PST 

Actually Dubai is very stagnant and I am my self struck there. Waiting since last year situation very slow. Dubai is so cyclical that ordinary man have no idea what will unfold.
>
(75353)
Sunday, July 31, 2016 10:14 PM PST 

میرے پیارے بھائیوں ۔ میں آپ کی آسانی کے لئے مسئلہ بیان کر دیتا ہوں اور امید کرتا ہوں کہ آپ سب تسلی بخش جواب دیں گے ۔ فرض کر لیتے ہیں کہ ایک پلاٹ کی ایف ۔ بی ۔ آر قیمت پچاس لاکھ روپے ہے۔ اور میں ایک فائلر خریدار ہو۔ میں اس پلاٹ کی اصل قیمت ایک کروڑ ادا کرتا ہوں اور اس کے علاوہ 3 فیصد سٹیمپ ڈیوٹی، 2 فیصد سی وی ٹی ، وید ہولڈنگ ٹیکس اعشاریہ 3 فیصد اور ایڈوانس ٹیکس اور 1 فیصد ایجنٹ فیس اور اوسط سوسائٹی فیس ایک لاکھ کے ساتھ میری کل لاگت ایک کروڑ چھ سے ساتھ لاکھ کے درمیان رہے گی۔یہاں تک معاملہ بہت سیدھا ہے اور سمجھ آتا ہے۔ اصل مسئلہ اب شروع ہوتا ہے۔ ابھی ایک سال کا عرصہ نہیں گزرتا لیکن ضرورت کے تحت میں پلاٹ ایک کروڑ پچیس لاکھ کا بیچ دیتا ہو۔ اب گر میں  ایف ۔ بی ۔ آر قیمت پر رہتا ہوں تو مجھے اعشاریہ 3 فیصد وید ہولڈنگ ٹیکس ، 2 فیصد ایڈوانس ٹیکس اور ایجنٹ فیس اور اگر سوسائٹی کا خرچہ ہے تو کل ایک اور دو لاکھ سے زیادہ نہیں ادا کرنا پڑے گا ۔ سفر کے اخراجات اور نئے پلاٹ کی مٹھائی ملا کر آپ کل لاگت ایک کروڑ دس لاکھ فرض کر سکتے ہو ۔ اور منافع 15 لاکھ۔ کیونکہ پلاٹ میں ایک سال کے  عرصے کے اندر بیچا اس لئے ایف بی آر قیمت بھی نہ بدلی اور میں نے 10 فیصد گین ٹیکس بھی نہ ادا کیا۔ لیکن اب مشکل یہ ہے جو قیمت میں نے پچاس لاکھ سے اوپر حاصل کی وہ بنتی ہے 75 لاکھ۔ جو اصل میں تو حلال تھی مگر اب بن گئی حرام ۔ اور کچھ بعید نہیں ایف بی آر نوٹس بھیج کر اس کا ذریعہ بھی پوچھے۔ اب اگر میں اس کو حلال کرنا چاہتا ہوں تو مجھے اصل فروخت قیمت بتانا پڑے گی اور 75 لاکھ منافع میں سے 7 لاکھ پچاس ہزار ٹیکس ادا کرنا ہوگا ۔ یعنی میرا منافع ہو گیا ایف بی آر کی نظر اور میرے حصے آئی خواری اور مٹھائی ۔ اور اگر میں جائز بات کرتا تو میں شروع سے ہی اصل قیمت خرید ظاہر کرتا۔ اب تھوڑی دیر اور فرض کر لیں کہ میں نے بیچتے وقت اصل قیمت ظاہر کردی کیونکر میں کسی مسئلہ میں نہیں الجھنا چاہتا ۔ اب جو نیا خریدار ہو گا اس کے لئے سب سے پہلے جو مرحلہ درپیش ہوگا اس نے ایک کروڑ پچیس لاکھ کا ذریعہ معاش ثابت کرنا ہو گا ۔ باقی اس پر ٹیکس کس طرح لاگو ہو گے اور نئے سال ایف بی آر اس کو کس طرح قیمتوں کے تعین میں مثال بنائے گا ۔ یہ میں آپ پر چھوڑتا ہوں ۔ ہاں یاد رہے اسحاق ڈار نے قیمتوں کا تعین ایف بی آر کو دیا ہے۔ ان کو سب اندازے تھے ۔ یہ کوئی بچے نہیں تھے۔

Waseem® replied on Sunday, July 31, 2016 10:54 PM PST 

Which means the seller will increase its selling price, hence a fair chance that property
prices will increase.

Adnan_Ali® replied on Sunday, July 31, 2016 11:57 PM PST 

Mostly property Investors are foreign Investors and after all this exercise they faced from government, they will become filer and transfer they remittances in Legal way.
On Signed deal, if they mentioned the actual amount, there is no harm on it because CGT they have to pay according to FBR decided valued as mentioned in scheduled chart so their white money will remain white and when they file annual Tax return, they mention the correct figures and profits.
Its already understood that there is and will be difference in real
prices and FBR prices.

Real estate replied on Monday, August 1, 2016 12:04 AM PST 

Adnan Ali good explanation

User_9325® replied on Monday, August 1, 2016 12:08 AM PST 

yu are inder the assumption that suddenly our FBR has become very competent and will scrutinize every sale deed. Sir this CGT was present before also. have yu ever filed return? or recieved notice from fbr? even if yu recieve, yu will only end up bribing the fbr officer. it will be business as usual. this cgt has always been there but people come to know about it now

Tahir lutfi replied on Monday, August 1, 2016 12:11 AM PST 

People will consider involvement of FBR as a curse and some type of apprehension and threats
If the taxes would have increased that's were to be absorbed one day or other
However involvement of FBR for investors would be like of police for criminals
Let's hope for the best

Pakistan® replied on Monday, August 1, 2016 12:29 AM PST 

brilliant game by FBR

people have no idea what has happened

MIT® replied on Monday, August 1, 2016 12:59 AM PST 

Very interesting to read a lot of emotional upheavals here like matter of life and death, and as if it is end of the world. Time itself will find due course like a streaming river.

HassanHC® replied on Monday, August 1, 2016 01:31 AM PST 

Nothing is changing in Pak.
Same old FBR
Same old investors
Same old Pakistan real estate with good potential
Yes little more transactional cost
Still cheaper then taxes world over.
London is 28%
India 20 %
Canada 25%

Actually in the end a big deal was made but all got settled with small give and take.

Zahid replied on Monday, August 1, 2016 01:40 AM PST 

Kindly read this again & again & again. Try to understand why this is relevant to Pakistan.

http://www.dawnnews.tv/news/1041219

AHMAD HASSAN® replied on Monday, August 1, 2016 03:10 AM PST 

I agreed same FBR, same nation & same country. My these new questions are self explanatory.

Market was silent from last month or no?
Did any one experience such deadlock before ?
Ever this market catch breaking news on media in past?
Did any GOVT invest this much in Lahore?
Who is supposed to pay back cost of infrastructure? Ofcourse us in shape of taxes otherwise Ishaq Dar or NS will pay from pocket. And we should encourage to pay.
Ever Pakistan's external debts crossed 76$ figure?
Do we have enough power and gas for new societies?
Our export reduced 20% or no?
How many new jobs we created in last 5 years? Nill/Nill
Last but not the least, Pakistan is in state of war or no?
Now we all Pakistanies single hobby/ business job. Buy property, sell property and make rich ourselves.
Either we ve pay our taxes honestly and encourage each other too or wait for total collapse as a estate.

HassanHC® replied on Monday, August 1, 2016 05:01 AM PST 

Ahmad Saab well said. Honestly now I will feel less guilty with so much gains as will pay small tax and will contribute to Lahore infrastructure.
Investors from Lahore should definitely not complain as they are getting billions of rupees worth of infrastructure.

Tahir Islam Bokhari replied on Monday, August 1, 2016 06:37 AM PST 

Dear Ahmad Hassan and Hussan HC Sb,

The real issue is not the New Tax Rates, as they would not make much difference as compared to Previous Tax Rates. But the real issue is the confusion among investors regarding additional amount of tax they would have to pay in a single property transaction.

Fortunately, the new agreement with Govt. has cleared the dust, and the situation remained almost the same with just a little more taxes.

But unfortunately, some of us are working hard to maintain and create further confusion. I would request my friends to avoid adding the confusion by presenting inconsistent arguments.

Dear Ahmad Hassan sb, people cannot blamed for:

1. Silence/Deadlock in the Market from last month
2. Pakistan's external debts crossed 76$ figure
3. No power and gas for new societies
4. Export reduced 20%
5. No Jobs Created/Unemployment.

No sane person can deny that he should pay the taxes, but everyone wants that the taxation system should be transparent. But you seem to advocate paying taxes as a penalty for bad governance.

Also, the infrastructure development in Lahore is being done by Punjab Govt, but the New Tax issues are related to the Federal Govt. It means that the new taxes are not supposed to pay the cost of Development in Lahore.

I would suggest you to please think before you write anything in this forum, as such confusing statements may create further confusion in the real estate market, which would be damaging for our economy rather than strengthening it.

AHMAD HASSAN® replied on Monday, August 1, 2016 12:31 PM PST 

Dear Tahir Bahi, that is not true that we are not responsible for all this. In fact we all are responsible. We demand NS to show his assets and source of funds for London apartments, they stripped all Pakistanies with one property tax law. How can we ask him if we all are not agree to pay. Punjab GOVT obtained funds from center as well as they ve direct deals with Turkey & China. All will be pay back by tax payers money. Tahir Bahi you can say my info isn't correct, you can oppose in positive way with logics but you shouldn't blame one of spreading incorrect information. This forum is for discussion. Neither I can raise price nor I can decrease. But not one cannot change reality & reality is Pakistan external debts has crossed $76b(beyond alarming situation) because Pakistan's N weapons are on high risk due to debts, Pakistan is in state of war that cost very high. Too much investment in Lahore only but new job creation zero.
Please don't concider me N league supporter, I am with opposition party:) I am only advocating to be transparent in deals & don't underestimate intentions of FBR.

Tahir Islam Bokhari replied on Monday, August 1, 2016 04:09 PM PST 

Dear Ahmad Hassan Sb, I do not doubt your intentions, but I suggest you to think twice before writing.

How can you give a sweeping statement that "We" (you mean all Pakistanis) do not want pay taxes. The way you are claiming it actually means that nobody in the world wants to pay taxes. People would happily pay taxes if there is transparency in collection as well as use of these taxes.

By blaming us "all" for the miseries of Pakistan, you are actually trying equate law-abiding people to the criminals and fraudulent people.

Please don't try to blur this difference, which can only help the fraudulent people. Its like a Chor who starts saying Chor Chor to hide himself among the innocent people.

AHMAD HASSAN® replied on Monday, August 1, 2016 08:39 PM PST 

بات کڑوی ہے مگر ہے سچ۔ less than 1% persons Pakistanies pay taxes. We all are in same boat.

Tahir Islam Bokhari replied on Monday, August 1, 2016 10:18 PM PST 

There should be direct taxes on actual income, rather than indirect taxes that are imposed on all the people.

AHMAD HASSAN® replied on Monday, August 1, 2016 11:23 PM PST 

طاہر بھائی ۔ Now are agreed on same point. Yes we are giving indirect taxes. May be more than anyother nation in world. We were giving taxes based in DC rate as well. But our system was converting white money to black technically. Now FBR launched new FBR values. If we continue same practice, outcome will be same. In fact this system suits to black sheep's. اور ہمیں ان کو اپنی صفوں سے نکالنا ہے۔. This will be possible when we will all start transparent deals on actual and start mentioning actual buy and selling price & we won't be blackmail.
>
(75352)
Sunday, July 31, 2016 09:33 PM PST 
Someone brief

40 lac limit only for witholding tax or for capital gain tax too ??cvt and stamp will be on new dc rates buyer ??
Gain tax , witholding tax will be on fbr evaluation for seller ??
How people will come to know fbr evaluated rate ?? And dealer will follow there rates or fbr evaluation ??
Also want to konw what will be procedure of buying and selling for filer and non filer ?? Someone give example covering cvt , stamp for buyer on other end gain and other tax for seller in one story .
How I can become filer with no job no business but a million rs from forfather property , also someone tell which taxs are returnable for filer from property at end of year ?? Jaxak AllH khair

HassanHC® replied on Sunday, July 31, 2016 10:06 PM PST 

All correct. Stamp CVT same old procedure.
Capital gains tax only filer like before.
As such in new laws noting much changed.
Valuation list be FBR will be printed and every dealer will have copy of it.
Become a filer and get all your WHT refunds back also.

Tahir lutfi replied on Monday, August 1, 2016 12:16 AM PST 

Is it simple to become a filer even if u have bought a property as non filer

Some one plz through some ligbt
>
(75349)
Sunday, July 31, 2016 04:22 PM PST 
Current Tax Rates

Jameel Mughal Sb, Please make corrections if required.

Buyer (Filer and Non-Filer both)
Stamp duty 3% on dc rate
CVT 2% on dc rate

Buyer (Non-filer)
WHT tax 0.6% on valuation price
Advance tax 4% on valuation price

Buyer (Filer)
WHT tax 0.3% and Advance tax 2% on valuation price

Seller (Non-filer)
WHT 0.6% of valuation price
Advance tax 4% of valuation price

Seller (Filer)
WHT 0.3% of valuation price
Advance tax 2% of valuation price

CGT (Filer)
10% first yr sale
7.5% second yr sale
5% third yr sale
0% after 3 yr sale

CGT (Non-filer): 0%

Ahmad replied on Sunday, July 31, 2016 04:37 PM PST 

How CGT for non filer will be 0%?

humayun replied on Sunday, July 31, 2016 05:11 PM PST 

Bcz filer is not filing income tax return. CGT will be only paid by him at the time of filing. For nonfiler it will be Zero definitely lol.

User_9325® replied on Sunday, July 31, 2016 05:11 PM PST 

now yu cannot remain non filer. they will start sending notices if yu are a non filer and own a property. this term non filer will slowly diminish to exist. they want everybody to file returns and document economy

Ashfaq® replied on Sunday, July 31, 2016 05:20 PM PST 

Many thanks. If we sell plot after 3 years, what would be application of withholding tax and advance tax? Shall we pay or it would be exempted

Kindly advise.

Waseem® replied on Sunday, July 31, 2016 05:21 PM PST 

Seller has to pay advance tax 4% (non filer) on evaluation price.
Let's say 4 lacs on 1 crore property sale, or 8 lacs on 2 crore. Here goes the profit to directly to government.

pk replied on Sunday, July 31, 2016 05:28 PM PST 

non filer would have paid 8% advance tax plus 0.9% withholding tax, so may actually have tax refund due. It will not make sense for anyone to be non-filer in the future.

Aldwin® replied on Sunday, July 31, 2016 05:33 PM PST 

Even if overseas Pakistanis file their tax returns, they cannot get their tax refunds because they usually don't have any other taxable income. So their money will be gone for good, whether they file or don't file returns. Any comments?

Aldwin® replied on Sunday, July 31, 2016 05:36 PM PST 

@Ashfaque
Advance income tax and WHT will be applicable irrespective of when you buy or sell your property.

Szaidi® replied on Sunday, July 31, 2016 05:49 PM PST 

@Aldwin. In case of filer overseas Pakistanis has to pay less tax and if Non filer they have to pay more tax.

Ashfaq® replied on Sunday, July 31, 2016 06:02 PM PST 

@ Aldwin® : Jazzaak Allaah Khairian

Nabeel® replied on Sunday, July 31, 2016 06:11 PM PST 

Yes Aldwin I believe you are right.

Even if overseas Pakistanis file their tax returns, they cannot get their tax refunds for Advance Tax because they usually don't have any other taxable income. So their money is gone for good, whether they file or don't file returns.

So this increase in Advance Tax will hit overseas hard. Thanks Government.

Aldwin® replied on Sunday, July 31, 2016 06:24 PM PST 

#Szaidi
You are right. An overseas filer will pay 2.3% less tax than an overseas non-filer.

AHMAD HASSAN® replied on Sunday, July 31, 2016 08:04 PM PST 

http://tribune.com.pk/story/1152782/real-estate-sector-handed-tax-amnesty/

HassanHC® replied on Sunday, July 31, 2016 08:20 PM PST 

Number 1. Capital gains tax you don't have to pay upfront.
Number 2. When you file taxes you will pay gains tax at year end
Number 3. All taxes you have paid upfront CVT WHT etc will be subtracted from base price and adjusted to reduce the sales price and then only gains tax will be calculated
Number 4. When you file taxes you will get a refund for money you paid as WHT.
Nimber 5. Becoming a filer is recommended to reduce WHT and get refund also.

Ahmad replied on Sunday, July 31, 2016 09:32 PM PST 

When new DC values will be declared?

HassanHC® replied on Sunday, July 31, 2016 10:15 PM PST 

Alldwin
seller filer 1 % no filer 2%
>
HTML code is disabled   Previous Page   Got to MORE Discussion or Ads on Next Page