Lahore Real Estate Forum: Property News & Community Talk : Discussion Property News & Community Talk

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(75165)

Kureshi�

Saturday, July 23, 2016 07:54 PM PST

Reply:

Once again , jang news spreading panic.

Surfer� replied on Saturday, July 23, 2016 08:28 PM PST

@ Kureshi bhai. The main mission statement of Jang group is Always spread panic to increase the sale. In case of Print as well as electronic media.
If some matter is never to be resolved they spread panic & seems to jump back to its starting point.

Usama Javed� replied on Saturday, July 23, 2016 08:29 PM PST

jang, Geo no credible source

H Ali replied on Saturday, July 23, 2016 11:11 PM PST

Thy have zero credibility. If you pay them well and ask them to insult their own families, they'll probably do that too. Extremely cheap and low level journalism.

MIT� replied on Sunday, July 24, 2016 12:57 AM PST

All of you guys have stated so correct. Shame on this dirty house of hypocrisy.

Nadeem replied on Sunday, July 24, 2016 02:07 AM PST

Don't trust Jang-Geo Group, They just need to make money in Pakisran to spread their empire and influence and rarely visit Pakistan.

4Muzzamil� replied on Sunday, July 24, 2016 03:13 AM PST

govt shud take current /market rates from LRE website , all are available here xD

FAA.awan replied on Sunday, July 24, 2016 04:11 AM PST

Jang and Geo are fake team and suppoters of Nawaz league .Geo urges Ishaq dar to impose property taxes.Everybody knows Geo group's character is doubtful.

MIT� replied on Sunday, July 24, 2016 12:37 PM PST

Agreed with Mr. Jameel, but who cares in Pakistn? An ex post facto law is a law that retroactively changes the legal consequences (or status) of any past matter and were already made unlawful by the Kellogg-Briand Pact, the Covenant of the League of Nations, and the various Hague Conventions. Retrospective criminal laws are prohibited by Article 7 of the European Convention legislation, though new precedent generally applies to events that occurred before the judicial decision. Ex post facto laws are expressly forbidden by the United States Constitution in Article 1, Section 9, Clause 3 (with respect to federal laws) and Article 1, Section 10 (with respect to state laws). In some nations that follow the Westminster system of government, such as the United Kingdom, ex post facto laws are technically possible, because the doctrine of parliamentary supremacy allows Parliament to pass any law it wishes. In a nation with an entrenched bill of rights or a written constitution, ex post facto legislation may be prohibited.
Article 12 of the constitution of Pakistan clearly prohibits any law to be given retroactive effect by stating:
12.1 - No law shall authorize the punishment of a person:-
12.1.a - for an act or omission that was not punishable by law at the time of the act or omission; or
12.1.b - for an offence by a penalty greater than, or of a kind different from, the penalty prescribed by law for that offence at the time the offence was committed.

CMY replied on Sunday, July 24, 2016 02:54 PM PST

FAA.awan Please send a text again to reserve name. Lost your numnber

Ali.bianco replied on Sunday, July 24, 2016 11:55 PM PST

Geo is biased channel for their own agenda... Not worth trusting..

Ali.bianco replied on Sunday, July 24, 2016 11:56 PM PST

Geo is useless channel for their own agenda... Not worthy

(75164)

ahmad khan

Saturday, July 23, 2016 06:30 PM PST

Reply:

whats the price of v 662 phase 8?

(75163)

Shahwaiz Tahir

Saturday, July 23, 2016 05:17 PM PST

Reply:

Plot Evaluation Prism R-1099

Dear LRE Team,

Hope this msg finds you well.

You are doing a great job as we are updated with every bit of information and news in the market by following you guys.

Thankyou for that.

It is requested to kindly evaluate the price of the following plot

Dha 9 Prism
Plot no. R-1099

And also let me know when is the good time to sell it and buy 10 marla in the same phase. I.e DHA prism 9 .

Thankyou
Best Regards

(75162)

foreign remittance

Saturday, July 23, 2016 06:33 AM PST

Reply:

E-remittance

if in the bank statements, the foreign remittance is indicated as E-remittance, is it acceptable to the fbr as foreign remittance. please guide in this reference. thanks

Headliner� replied on Saturday, July 23, 2016 01:10 PM PST

Go to the bank and get the remittance certificte

000Rizwan replied on Saturday, July 23, 2016 01:30 PM PST

Headliner kia process ha ye certificate lene ka or kitne din me mil jata ha?

Habib replied on Saturday, July 23, 2016 04:33 PM PST

Dear You need PRC [Remittance certificate]

Month ago Mr SA posted this on this site see carefully

I am amazed how ignorant people are about REMITTANCES and LEGAL WHITE MONEY IN PAKISTAN. I have lived in Saudi Arabia for 10 years and still visit on and off.

99% of people in Saudi don�t have a clue how to handle their money in PAKISTAN. ( legally )

Most of the people in Saudi send money to Pakistan to support their families though WU, Banks or any other channel. These people don�t need any remittance records as the money is spent on necessities.

But Investors who want to invest in Pakistan need to maintain proper Record in Pakistan for their REMITTANCE to be declared " WHITE MONEY "

let me give you few examples where your HARD EARNED HALAL money is considered black in PAKISTAN.

1. You are travelling to Pakistan and greed comes over you. You put 1 lac Riyals in your laptop Bag and bring the money to Pakistan, convert the money through money changers and buy a plot or put in your bank. ( People do this thinking that their money is HALAL so no one will question them ). PAKISTAN CONSIDERS THIS MONEY BLACK.

2. You transfer your money into your XYZ relatives account and you pay from his account.

3. You send Dollars to your USD account in PAKISTAN , Invite money changers in the bank, convert your cash in PKR and deposit back into your account. ( PAKISTAN CONSIDERS THIS BLACK MONEY )

these are just few examples which people do with their money. there are many more.

NOW LETS COME TO THE POINT , HOW CAN YOU DECLARE YOUR MONEY WHITE OFFICIALLY RECOGNIZED BY PAKISTAN AND FBR.

1. Open a bank Account in PKR in PAKISTAN. I USE UBL because SABB uses UBL as their remittance partner in PAKISTAN. YOU need to know which bank is in partnership with your Saudi Bank.

2. SIMPLY USE AL RAJHI to transfer your money or use your online SABB account to transfer money to UBL. If you are sending money through SABB to UBL account, the money will be deposited within 3 days with all the details of your transaction. If you use SABB to transfer money into any other bank, it will reach UBL KARACHI and then UBL KARACHI will issue a LOCAL PO which will be deposited into the bank which you have mentioned. ( NO record of remittance will be shown )

Note: Rajhi mostly uses HBL to process remittances.

3. When you receive money in PAKISTAN, You should have TT number or reference number with you, Along with scanned copy of Saudi bank voucher or money changer voucher. Go to your UBL branch and ask them to ISSUE " PRC" against your remittances. Your branch will make an application and you will sign it , they will scan it and send to the concerned department over email. After few days or even weeks with continuous follow ups eventually your PRC will arrive and you can collect it.

THIS PRC IS ONLY THING WHICH IS ACCEPTABLE and FBR ACKNOWLEDGES as FOREIGN REMITTANCES.

I have explained small details about UBL. procedure varies between different banks. BUT Keep in mind you need PRC certificate to legalize your money.

Lastly do not send money in USD in Pakistan. Because if you change USD to PKR from bank itself you will loose lots of money as their exchange rate is very poor ( they make lots of money by converting into PKR ) and the only way to get PRC from bank for USD is if you use banks services. if you withdraw USD and use local money changer , NO one will issue PRC and FBR or the GOVT. of PAKISTAN will not recognize your remittances as legal.

ALL this is for people who are investing in Pakistan. Money which is being used for necessities do not need to go through all this procedure.

ONE LAST THING

Overseas people who want to avoid paying 0.6% WHT on their bank transaction must file their income tax on yearly basis.( HIRE A LAWYER WHO WILL DO ALL THIS ON YOUR BEHALF FOR A VERY SMALL FEE of around 10-15 thousand ) As soon as you file your return you will be automatically updated as " FILER" STATUS and no WHT will be applicable on you when you buy a property, CAR, CASH withdrawals, BANK transfers etc. etc. All the money which you are sending to Pakistan is exempted income. There is no income tax on your foreign income which you are sending to Pakistan. All overseas will declare their income as foreign remittances and declare their assets. You will return a NILL income tax return with all your assets and money LEGAL.

I request all overseas to go through these procedures again and again as i myself have gone through all of this ( I learned it the hard way with no one to guide me) so i want other people to benefit. These are just simple steps with no extra money involved, just some paper work and all your money and assets will be legal.

I am willing to give answers to all of your questions which will help you legalize your money in Pakistan. Please forgive me if I am wrong some where. Whatever I have written is a personal experience and may vary from one individual to another.

User_19762� replied on Saturday, July 23, 2016 04:47 PM PST

Habib bhai thanks for detailed guidance, one question if person send money to his blood relatives like father bank account then what will be the status and from that transfered money, account of father is used for purchase of plot.

Rana 1 replied on Saturday, July 23, 2016 06:33 PM PST

Salam to all,

@Habib brother, I am living in EC and wanted to do some business in Saudia because of Holy Places to work and pray together there.
As you told you are living and often visiting Saudia, is there some possiblity to establish some your company and do a small import of fruits and vegetables to compensate the expenses.

Thanks and Regards,

Habib replied on Saturday, July 23, 2016 07:10 PM PST

Dear Rana I am in UAE, this article was Courtesy of Mr Sa Living in Saudi

Azee replied on Sunday, July 24, 2016 09:10 PM PST

Misery! few means rather legal means are available to transfer funds to our LOVING country sure, but very few or may be only one mean declare the transfer Legal or in general "WHITE", my question is "if money transferred 1. to bank but PRC not obtained 2. through western union 3. carried while traveling and exchanged there, will not be considered as foreign remittance or "WHITE" then why THESE MEANS ARE AVAILABLE AND WORKING??

Juman replied on Monday, July 25, 2016 03:24 AM PST

Mr. Habib
Anyone is legally allowed to carry $10,000 USD while traveling to Pakistan (inward money). What is the status of that money and how can that money be legalised or can be shown white because you are not bound to declare if cash is not more than USD$ 10,000/-

Mohammad akram replied on Monday, April 8, 2019 09:12 PM PST

Simple question
Send the money WU from europ to pakistan in my account
Are consider leagle money for purchase any assets
Thanx

(75161)

CMY

Saturday, July 23, 2016 06:08 AM PST

Reply:

*Prism DHA Lahore Phase 9 Development Update July 2016*

<<< Standing in Prism A Block While Taking Picture

*Prism DHA Lahore Phase 9 Development Update*

More Pictures Can Be Seen At Lahore Rral Estate Facebook Page Here

https://www.lahorerealesate.com/plots-for-sale/prism-dha-lahore-phase-9/

or here

https://www.facebook.com/permalink.php?story_fbid=&id=

Time to make long term investment again in Prism plots taking advantage of this current taxes confusion buying opportunity. Please dont look for short term. Prism is going to return you most in 3 year from even todays prices that have out performed all other Lahore housing projects in DHA Lahore and all Lahore property market.

To buy sell plots here or to get free assessment of your plot you are buying or selling anywhere or stay fully updated on daily bases on development prices trends please leave SMS or a free WhatsApp text message at + or + .

Choudry Mujahid Yasin ( CMY )
+

KSA Banker� replied on Saturday, July 23, 2016 04:25 PM PST

Dear CMY, hope you are recovering well from your back problem, further to your below post, can you kindly elaborate and explain the logic to support your recommendation that due to "this current tax confusion", there is opportunity to buy in Prism for long term, by what percent the prices in Prism have come down due to this tax confusion to warrant such assertion? My advance apologies for any difference of opinion with other respectable participants of this forum but in my humble opinion being a relatively small real estate investor, prices had just gone crazy over the last year with demands for canal plot approaching up to 15 million in prism which may be 10 years away from being live able. Frankly, from rental yield perspective, such prices did not make any sense and correction was due in any case even before tax issue which may be a contributing fact now. It may take a bit of time for market participants to first understand and then accept new market reality and conditions. So in my opinion, which differs from yours in this case, it is time to wait with liquidity in hand till the prices come down to more rational levels hopefully.

(75160)

Not Registered 8840

Saturday, July 23, 2016 05:16 AM PST

Reply:

current rate and trend of a proper allocation file of 10 marla in DHA

Just want to know the present trend and rate of a 10 marla proper allocation file in DHA Phase 5 Lahore.
Should I sell it right now?
Should I wait untill the balloting?
Any idea about balloting date?

Surfer� replied on Saturday, July 23, 2016 04:34 PM PST

Sell it & buy 1k in PRISM for 3 years hold fruitfull Investment. "In shaa ALLAH"

(75159)

Ahmed

Saturday, July 23, 2016 03:34 AM PST

Reply:

Please evaluate 2628 prism j block 5 M

CH SAEED replied on Saturday, July 23, 2016 01:47 PM PST

Dear Ahmed Sb,

Prism near J 2628 is around 31 lacs ( 2 paid )

CH SAEED
+923224333661
Lahore Real Estate
Email:INFO@LREPK.COM

(75158)

LondonBoys

Saturday, July 23, 2016 01:28 AM PST

Reply:

Price Evaluation

Dear LRE,

Kindly evaluate the below plots,

Plot 15/ Q block - 1 kanal - Phase 9 Prism
Plot 1720/ F block - 1 Kanal- 9 prism
plot 945 /R block -5 marla - 9 prism

Thanks.

CH SAEED replied on Saturday, July 23, 2016 01:48 PM PST

Dear Sir,

Market value near Q 15 is around 90 lacs ( 2 paid )

Market value near F 1720 is around 100 lacs ( 2 paid )

Market value near R 945 is around 40 lacs ( 2 paid )

CH SAEED
+923224333661
Lahore Real Estate
Email:INFO@LREPK.COM

(75157)

Waseem�

Friday, July 22, 2016 05:28 PM PST

Reply:

Safe Passage for Corrupt

The point is when you do fraud, do it in billions, so that you can buy any government official.

Abdal� replied on Friday, July 22, 2016 06:00 PM PST

Fully agreed. Amnesty at 4-5% with no past record checking when the applicable tax rate is around 35% would be discouraging honesty and law abidance in the society.

Real Estate is best replied on Friday, July 22, 2016 06:17 PM PST

kisi taraf tou khush ho jaya karo yaar tax laga tou rona daala ab agar mamlaat solve ho rahay hain tou phir rona ratta

AHMAD HASSAN� replied on Friday, July 22, 2016 06:20 PM PST

Both Stakeholders & FBR teams are working separately to propose new market values of 21 cities properties. Really very hard job if go for actual. A general understanding is that current DC rates will be increased 20% and rest will remain same. If this is correct then business will be restored as usual. A real picture will come after 27th July as FBR figures could be different and become point of conflicts. Apart from that we should really appreciate GOVT team as they didn't try to become showstopper yet, although they crashed business so far. Lesson learned for overseas Pakistanies is that don't let convert our white money to black money. Try to become filer and start to declare actual purchase & sell price because this relief is temporarily. In coming years new amendments will be in place.

Kureshi� replied on Friday, July 22, 2016 07:14 PM PST

very valid points,Habib.

Waseem sb, Not all money termed black is bad. for 90 % users its the bad system that turned their hard earned white money to black. Any body who has changed location of plot by flipping property in past 5 years ( i am sure thre are many on this forum) have become a victim of turning their white money to black due to less knowledge of filing property transactions in their tax returns and intehrently wrong system of recording transactions based on CVT and stamp duty on DC rates.

while it is a karwa ghoont but its a big step that govt and dealer association is taking to fix this big mess which no one has ever dared addressing.

Lets hope and pray that things get settled in an amicable way and end up being beneficial for the country and countrymen.

Newbie replied on Friday, July 22, 2016 07:45 PM PST

Question is for someone who is not a filer, lives abroad i.e. non resident.. if lets say he has purchased a property last year, then how government will collect tax from him ? since he is a non-filer so not declaring assets, will he have to pay this tax at the point of when he sell in future or will he get some kind of notice from FBR to his abroad address ?

Newbie replied on Friday, July 22, 2016 08:50 PM PST

Anyone ?

Asad-Ali replied on Friday, July 22, 2016 09:20 PM PST

@Newbie, you would be asked to pay Tax at the time when you sell this.

Newbie replied on Friday, July 22, 2016 09:35 PM PST

Thanks Asad-Ali. It is still confusing :

Does it mean, a filer have to declare the asset purchased in last 5 years and pay the tax immediately.

And the non-filer will only pay when he sell, and do not need to bother until he decide to sell.. And inface, if he sell after 5 years, then no tax.

Its difficult for me to believe that non-filer is at an advantage.
Pleaae explain ?

Asad-Ali replied on Friday, July 22, 2016 10:42 PM PST

no matter you are filer or non-filer, no need to pay TAX until you sell your plot. And if you are filer, you can declare its actual value you purchased and there is no new TAX on old transactions. Taxes apply only on future transactions

Newbie replied on Friday, July 22, 2016 10:55 PM PST

@Asad-Ali - thanks
But then what is the scope of amnesty that is being planned, and is it not for past transactions, where to avail amnesty u have to pay tax upfront within 2-3 months of amnesty period ???

Jameel Mughal� replied on Saturday, July 23, 2016 02:23 AM PST

@New bie these issues have Been discussed in previous post, all assets have to be declared no matter 100 ys old. FBR will only question sources of Funds in last 5 years prchases.
@ asad Ali don't Confuse gain Tax with this Filing
As 2015 law every one should File Income Tax though payable is zero, You have to declare all assets and to my understanding being overseas was no exemption. Now if some earns overseas and have 5 Cror Property in Pakistan and transferred all money by legal means should not worry, At this time there is no wealth Tax in Pakistan. So no matter you hold 100 Cror Property you are not Liable.
Property Tax is different entity and You are already paying. A different dep Called Excise and Taxation is responsible for that.
However all your money will be white once declared only catch is in Future if some new Tax Like "wealth Tax" is Imposed then you may have to pay.
This Law was widely not practiced in Pakistan and is still not being practiced. Even big politicians and businessmen and Govt officials [Corrupt or Not Corrupt] are not declaring personal assets.
The big question is should overseas take advantage of this point and declare assets or still wait. I personally will wait for Fair market price Law and discuss with some Tax expert at later stage.
N.B wealth Tax was in Practice in Pakistan till Late 1990s and after certain Bracket was 0.5 and then 1.0 Annually, later it was abolished by Last Nawaz Sherif Govt Before Musharraf. Wealth Tax is imposed on your net worth and not in practice in 90% Countries of the world. For reference see the Countries where wealth tax is in practice.

Newbie replied on Sunday, July 24, 2016 01:46 AM PST

@Jamil bro. Thank you. If as a non-resident and a non-filer I do not want to become a filer, can it be done legally or do I must need to become a filer and declare all assets. I have purchased few properties in last 5 years in Pakistan and all of them are in good profit but have not sold any of them so far and hence nothing to declare for cgt reasons.

(75156)

ahmad

Friday, July 22, 2016 02:50 PM PST

Reply:

what is the current value of V 662 phase 8 ?

(75155)

Mubashir

Friday, July 22, 2016 02:47 PM PST

Reply:

Dear LRE

AOA

Kindly evaluate the present market price and location of the following one kanal plot of Phase 6.

700-C
525-C

Hassan Raza replied on Friday, July 22, 2016 02:51 PM PST

Dear Mubashir Sb,

Phase 6 near C 700 is valued around 215 to 220 lacs

Phase 6 near C 525 is valued around 230 to 235 lacs

Hassan Raza
+923028449766
Lahore Real Estate
Email:INFO@LREPK.COM

Hassan Raza replied on Friday, July 22, 2016 03:05 PM PST

Dear Sir,

Phase 6 near C 700 is around 215 to 220 lacs and C 525 is around 230 to 235 lacs

Hassan Raza
+923028449766
Lahore Real Estate
Email:INFO@LREPK.COM

(75154)

Chaudhary�

Friday, July 22, 2016 02:22 PM PST

Reply:

price evaluation..LRE team
700,525 phase 6 sector c

Hassan Raza replied on Saturday, July 23, 2016 01:50 PM PST

Dear Sir,

Phase 6 near C 700 is around 215 to 220 lacs and C 525 is around 230 to 235 lacs

Hassan Raza
+923028449766
Lahore Real Estate
Email:INFO@LREPK.COM

(75153)

Ali

Friday, July 22, 2016 02:07 PM PST

Reply:

Price Evaluation
Dear Lre,
Pls evaluate EE-600 in State Life PH-2

Thanks.

CH SAEED replied on Friday, July 22, 2016 02:39 PM PST

Dear Ali Sb,

Your plot near EE 600 is around 18 lacs

CH SAEED
+923224333661
Lahore Real Estate
Email:INFO@LREPK.COM

(75152)

Amir

Friday, July 22, 2016 01:29 PM PST

Reply:

NFC 2 Plot
Dear LRE,

Kindly evaulate the cost of land of 130-A NFC-2.

(75151)

Mubashir

Friday, July 22, 2016 01:26 PM PST

Reply:

Plot Evaluation in NFC 2
Please evaluate the current price of my plot E 200

thanks

Mian Waqas replied on Friday, July 22, 2016 01:37 PM PST

Dear Mubashir Sb,

Your plot near E 200 is around 44 lacs ( cost of land )

Mian Waqas
+
Lahore Real Estate
Email:INFO@LREPK.COM

Anwar replied on Friday, July 22, 2016 09:36 PM PST

Mubashir sahib if u want to sell NFC 2 plot E 200 I want to purchase on cash because I have to return back on , immediate transfer. Please contact me at

FK replied on Saturday, July 23, 2016 06:04 AM PST

AOA
What is peice of G-401 (10 Marla) full developments paid.

Thanks

(75150)

Asad-Al

Friday, July 22, 2016 03:13 AM PST

Reply:

Guys - Please check this detail sheet

Total Late Fee for 1 kanal Prism development charges, if you pay after 3 years i.e 31 dec 2018 (exact date), will be 582309 PKR.

Asad-Ali replied on Friday, July 22, 2016 03:31 AM PST

Above Post is about Reference # 84474 (A Person asked for total late fine for 1 kanal prism development charges) after 3 years.

Mohammad replied on Friday, July 22, 2016 12:29 PM PST

Thank you brother Highly appreciate your effort

Babar� replied on Friday, July 22, 2016 07:16 PM PST

Dear Asad AL thanks a lot for sharing such a important information. Appreciate your kind effort.

(75149)

ahmad

Friday, July 22, 2016 02:48 AM PST

Reply:

what is the current value of V 662 phase 8 ?

(75148)

majid

Friday, July 22, 2016 02:47 AM PST

Reply:

whats the price of J 803 prism?

ASIM IRFAN replied on Friday, July 22, 2016 01:39 PM PST

Dear Majid Sb,

Your plot near J 803 can be sold around 40 lacs ( 2 paid )

Asim Irfan
+923224003475
Lahore Real Estate
Email:INFO@LREPK.COM

(75147)

Not Registered Yet

Friday, July 22, 2016 01:29 AM PST

Reply:

Pak Arab Society / Central Park / Bahria Nasheman / EMC

Guys - AOA
I am based in Middle East and want to move to Lahore with family and looking for a 5 marla (LDA approved) project as i believe projects without LDA approval could be risk investments.

Can someone advise me if the following projects have LDA approval.

1. Bahria Nasheman
2. Pak Arab Phase 2
3/ Bahria EMC
4. Central Park

Regards
Syed Assad

FAA.awan replied on Friday, July 22, 2016 04:52 AM PST

Dear brother,among these options Bahria Nasheman is the best project on Ferozepur road for living purpose having all facilities of modern life.There is no problem of load-shedding ,security and quick maintaince response.In short,beautiful soceity for living.It is safe and approved project by LDA and TMA. No tension of any sort, Lahore Ring Road is also coming near it.

User_14317� replied on Friday, July 22, 2016 04:50 PM PST

Bahria masheman..

(75146)

Surfer�

Friday, July 22, 2016 01:12 AM PST

Reply:

Good Breaking news

:cl :cl :cl

Jameel Mughal� replied on Friday, July 22, 2016 03:03 AM PST

I think Major Rift have resolved
Price will Fixed Like Dc rates and in Lahore will possibly not much different than DC rates
Transfers and Stamp fees will happen in DC rates
Federal tax will be charged based on Fare Market Value
FBR will audit/probe last 5 ys transactions, Not 10 yrs [ that is still pinching me] Actually 10 ys Probe was already near to impossible even Banks also don't Keep that old record due to every day changes in soft wares. For Overseas investors it is easy to Bring white money but difficult to deal with Corrupt officials, and For Local investors or holders it will difficult to prove white money both will be discouraged
I am Closely watching new developments before commenting any details.

AHMAD HASSAN� replied on Friday, July 22, 2016 04:11 AM PST

What do you mean when you say fair market value. Before federal tax was on gain. E.g. if net gain will be 10 lac then one has to pay 1 lac. But if market value will be fixed then it seems GOVT going to take 10% on market value either one sell in loss or profit. What kind of this deal is? GOVT is in win win posation & giving one free token to black money holders to take money out. Please don't become aggressive buyer and wait. The one who will sell now will be in total benefit. And new buyers will be in total loss if they will buy at high price.

Asad-Ali replied on Friday, July 22, 2016 04:45 AM PST

Ahmad Hassan, you are absolutely right. same question in my mind, if market value will be fixed with annual 10% increase. then according to this formula Capital Gain Tax should be zero if i buy a plot in July 216 and sell in May 2017, so net Gain will be ZERO according to market value which is FIXED in july 2016 and may 2017.

Ultimately It seems that FBR will apply Flat 2% or 3% CGT of current market value (Apply on Seller)

User_9325� replied on Friday, July 22, 2016 05:41 AM PST

I think there will an amnesty for past transactions as it will bring chaos. fbr officers will get rich due to under the table setllements and governement will lose revenues due to low level of transactions. dont know why they tried to sacrifice the hen rather then enjoying the eggs they were already eating.

User_6006� replied on Friday, July 22, 2016 06:13 AM PST

it's good but dead phase is dead phase .

Bilal29 replied on Friday, July 22, 2016 08:39 AM PST

So what has actually changed under the new proposed tax law?

I thought market value ka chaker ab khtam ho gaya hai