Lahore Real Estate Forum

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(75016)
Wednesday, July 13, 2016 01:06 AM PST 
Sales Tax Information for Retired govt persons

Dear Members,
As we know new taxes are going to be imposed on property sale, in which category retired government person( who is not filling income tax return now as his only earning is pension) will fall? filer or non-filer?


thanks,

Imran replied on Wednesday, July 13, 2016 03:33 AM PST 

pension income is not admissible for tax purpose. No tax on pension.
However in order to save taxes on your bank transactions u may voluntarily opt to file return.

Ammar® replied on Wednesday, July 13, 2016 05:03 AM PST 

@ Imran,
thanks for reply. But my asking is, if a retired person sell/buy any plot then he have to pay tax being filer or non-filer?

Samurai® replied on Wednesday, July 13, 2016 08:18 AM PST 

Dear Ammar,
If retired peopling are not filling income tax returns each years, then they would be considered as non
files.

MIT® replied on Wednesday, July 13, 2016 09:05 AM PST 

Aamer has asked a very genuine and critical question; the Government (M/O Finance & FBR) or the "Law Makers" should consider the most neglected group of retired/senior citizens in Pakistan. In civilized societies its the responsibility to take good care of their retirees but we have no justice at all let alone any soft corner for them. They must be exempt from Filer & Non Filer conditions to protect their whatever savings at the last stage of their lives. But who cares in Pakistan? these law makers have to look after themselves first all the times at the cost of public money by enhancing their own salaries and perks recently.

Arif M® replied on Wednesday, July 13, 2016 11:20 AM PST 

A retired person may also have a side business generating income. He could also have property on his name that is tax able. So tax still needs to be filed even the person is retired from govt or private job. My understanding.
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(75015)
Tuesday, July 12, 2016 11:53 PM PST 
Tax on empty plots

Lahore: Excise and Taxation Department has imposed a tax on the owners of empty plots at 10% of the value of property in the area their plot is located in if they have owned the plot for two or more years, according to a news source.

Reportedly, lists are being prepared with ownership details of all empty plots in order to claim tax on the specific property

User_6006® replied on Wednesday, July 13, 2016 12:14 AM PST 

Yani hr trf se ptaeee awam ki ke long rkho phr tax , short rkho phr tax is lya rkho he na

Asad-Ali replied on Wednesday, July 13, 2016 12:50 AM PST 

Mr SIM, Please do not spread fake rumours, (its not 10% but around 25,000 PKR once a year) and better to use register IDs.

User_14695® replied on Wednesday, July 13, 2016 01:13 AM PST 

Asad-Ali sahib
25000 thousand Per year tax on ( kanal ,10 marla , 5 marla) plot plz mention plot size.

Mrs imran replied on Wednesday, July 13, 2016 01:18 AM PST 

I have 2 plots but I don't have possession, to mera kia ho gaa koi tax lagy ga ya after possession lagy ga????

Asad-Ali replied on Wednesday, July 13, 2016 02:45 AM PST 

on non-possession plot, this tax does not apply.
infact all plots which possession was given after 1st july 2014, no tax for year 2016-17

Asad-Ali replied on Wednesday, July 13, 2016 02:46 AM PST 

dawn. com/news/1268759
they have divided cities into categories, Category A, B and C.

in case of category A, its 4.60 RS per square feet i.e (4500*4.6 = 20700 RS) per kanal
whereas in category C, its 1.64/sqftt (7380 RS per kanal)

Arif M® replied on Wednesday, July 13, 2016 03:04 AM PST 

After the survey, the actual price of the land will be determined by the department as per market value of the area. he said.

What is the purpose of doing this ??

Asad-Ali replied on Wednesday, July 13, 2016 03:15 AM PST 

Actual Price of the land evaluation has no connection with vacant/empty plot TAX.

actual land evaluation is only for Capital Gain Tax (separate Issue discussed many times at LRE forum)

MIT® replied on Wednesday, July 13, 2016 09:23 AM PST 

test

Arif M® replied on Wednesday, July 13, 2016 11:17 AM PST 

Asad Ali, that is why I am asking why they will be doing actual price assessments. Please read the article. I copied this from news article. I don't understand why they would do actual price evaluation. Don't we have separate companies for that purpose as list given by sbp. So why provincial govt is trying to find out actual values? Pleas check news article.

ShahzadQamar® replied on Wednesday, July 13, 2016 12:28 PM PST 

This tax is almost negligible value i.e. 21,000 on category A 1 Kanal possession plot which is almost 0.1% to 0.3% of plot value (ignorable in comparison to plot annual appreciation).

AHMAD HASSAN® replied on Wednesday, July 13, 2016 03:07 PM PST 

This will slow annual appriciation, now all potential buyers will be thinking that
prices will go down and they will hold their investments. Definately there will be a selling pressure. All major investors will move money in other sectors till things not clear. And that was agenda of this policy.

SIM replied on Wednesday, July 13, 2016 03:24 PM PST 

Dear Asad, I have tried to post the link for this news multiple times but it is giving error. I also wish this news to be false.

ShahzadQamar® replied on Wednesday, July 13, 2016 09:44 PM PST 

Selling pressure due to introduction of 0.1 to 0.3% of property value (1.5% on 5 years holding) does not seem logical to drop
prices beyond 1.5%.....but yes CGT shall have impact but that too is not significant.
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(75014)
Tuesday, July 12, 2016 10:02 PM PST 
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(75013)
Tuesday, July 12, 2016 09:33 PM PST 

TEST
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(75012)
Tuesday, July 12, 2016 09:10 PM PST 
Affidavit file purchase procedure

Dear Experts,

I am a newbie in this field and visit this website sometimes. Can you guys tell me how affidavit file purchase procedure works?

A dealer told me that I have to pay 2.5 Lac token (for which he will give me receipt on his estate letter head) along with ID card copy and 2 photograph. He will apply for transfer in DHA office and intimation letter will be prepared by DHA on my name. Once he have that in 4-5 working days, he will give me copy of letter. I will go to DHA office to get it verified. (can you guys tell how verification process works and how much time is required??)

Once verification is complete, I will pay the remaining agreed amount and seller will handover the original intimation letter.

Is deal complete at this point?

After that DHA will issue allocation letter in 45 working days ( will it be automatic? or I have to apply for it? any fees involved?)

Can you guys, please tell me if the procedure is correct or not? Are there any risk or tricky points which I can miss?

Thanks a lot in advance.

Arif M® replied on Wednesday, July 13, 2016 03:11 AM PST 

If you are new to this then I will suggest you to avoid affidavits as there are some risks involved in it. Better go for allocation file.

If affidavit is must, then deal with LRE as they are fair in sharing the correct details before hand.

As for the procedure this part is risky. Once he have that in 4-5 working days. It could be 4 days, 40 days or even more. No guarantees in this regard. DHA might not even clear it at all. All depends on the case.

On a side note, I ll suggest you to hold your buying decision for now and wait for market trends to emerge after recent taxes.
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(75011)
Tuesday, July 12, 2016 08:56 PM PST 

Dear Salman
Pls evaluate, 1 kanal plot near L-854 in Prism, phase-9, DHA. Can anyone help.Thanks

LRE® replied on Tuesday, July 12, 2016 09:48 PM PST 

Dear Ahmad Sb,

Prism near L 854 can be sold around 115 to 120 lacs ( 2 paid )

Buying and selling
contact us


SALMAN MAQSOOD
+923224009967
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
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(75010)
Tuesday, July 12, 2016 07:13 PM PST 
Test

Test message
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(75008)
Tuesday, July 12, 2016 06:03 PM PST 
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(75007)
Tuesday, July 12, 2016 05:14 PM PST 

LRE Team
Kindly give evaluation of E 272 Phase 6 and comment on location either is good or average and it future chances to increase with in 3 years?
Is phase 6 E Commercial is near my plot.

LRE® replied on Tuesday, July 12, 2016 07:35 PM PST 

Dear Hussain Sb,

Your plot near E 272 can be sold around 190 lacs

More information kindly
contact us


HASSAN RAZA
+923028449766
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM

HUSSAIN@1956® replied on Tuesday, July 12, 2016 10:19 PM PST 

Dear Hassan Raza,
Many thanks, kindly reply my others question
LOCATION Comments and future for 3 years
Near Phase 6 E commercial

LRE® replied on Wednesday, July 13, 2016 01:39 PM PST 

Dear Hussain Sb,

Kindly
contact Salman Maqsood +923224009967.He give better suggestion for you.



LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
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(75005)
Tuesday, July 12, 2016 04:34 PM PST 

Dear LRE,

Please evaluate the current worth of the near it.
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(75004)
Tuesday, July 12, 2016 04:23 PM PST 
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(75003)
Tuesday, July 12, 2016 03:45 PM PST 

Salam to All,
What is the price of 5 marls plots in phase 9 prism J block 1438. Can anyone assist me in this regard pls. Thanks In Advance

LRE® replied on Tuesday, July 12, 2016 04:20 PM PST 

Dear Saad Sb,

Prism near J 1438 is around 37 to 38 lacs ( 2 paid )

More information kindly
contact

Asim Irfan
+923224003475
Lahore Real Estate
Email:INFO@LREPK.COM
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(75002)
Tuesday, July 12, 2016 03:13 PM PST 

Pls evaluate, 1 kanal plot near R-60 in Prism, phase-9, DHA. Can anyone help.Thanks

LRE® replied on Tuesday, July 12, 2016 03:29 PM PST 

Dear Sir,
your plot is valued around 85 Lacs.

For more info
contact us

Salman Maqsod
Lahoer Real Estate
+923224009967
>
(75000)
Tuesday, July 12, 2016 01:37 PM PST 

Salam,
I am an overseas Pakistani and interested to buy a PLOT iñ Lahore.
what are latest details to buy a PLOT, will it be evaluated by SBP evaluators ?
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(74997)
Tuesday, July 12, 2016 01:30 PM PST 
discussions

Salam to All,
What is the price of 5 marls plots in phase 9 prism J block 1438. Can anyone assist me in this regard pls. Thanks In Advance

LRE® replied on Tuesday, July 12, 2016 04:22 PM PST 

Dear Saad Sb,

Prism near J 1438 is around 37 to 38 lacs ( 2 paid )

More information kindly
contact

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