Lahore Real Estate Forum

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(74128)
Sunday, June 5, 2016 06:55 PM PST 
Property Tax DC Value Diff

The problem is if you are selling at DC value then you will not be able to justify the actual selling price and DC value difference.

Your plot selling DC Value:40
Actual selling price: 100

How you will justify the remaining 60? Now FBR has started tracking thru bank channels. Will you take the risk of cash?

Isnt it a bigger problem?
>
(74126)
Sunday, June 5, 2016 06:39 PM PST 
Price assessment

Ad Type
City
Scheme
Phase
Block
For Sale
Lahore
Dha
Prism
B
Dear LRE BROTHERS.... Good day..plz evaluate
DHA...prism.9.......B-186
Thanks a lot

LRE® replied on Monday, June 6, 2016 08:16 PM PST 

Dear Sir,

Prism near B 186 can be sold around 1 crore included 1st installment paid



SALMAN MAQSOOD
+923224009967
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
(74125)
Sunday, June 5, 2016 06:34 PM PST 
New Taxes on Property

Dear CMY
Please educate us on the imposition of tax in the budget spec Capital Gain Tax (CGT) and its effects on seller as well as purchaser.
Best regards
>
(74124)
Sunday, June 5, 2016 06:17 PM PST 
>
(74123)
Sunday, June 5, 2016 05:22 PM PST 

Ad Type
City
Scheme
Phase
Block
Plot
Size
Road
Cur. Rate
lahore
dha
8
t
722
i kanal
70
Assalam o alakum,
Kindly give me average price of DHA Phase 8 Block T near 722.
Also there is reserved area in front of this plot.is there is any possibility Of grave yard IN Future in reserved area?

is it better to hold that property of just sell it??

Thanks

LRE® replied on Sunday, June 5, 2016 05:37 PM PST 

Dear Sir,
Your plot Near T-722 Worth is around 185 Lacs
More information Plz Content

KHADIM HUSSAIN
+
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
(74122)
Sunday, June 5, 2016 05:09 PM PST 
Sale of 25 acre agri land on kasur road

Any one interested to buy 25 acre good agri land with good approach from main road.

overseas replied on Sunday, June 5, 2016 05:11 PM PST 

what is the price per acre
>
(74121)
Sunday, June 5, 2016 04:02 PM PST 
New Taxes on Property

Dear CMY
Please educate us on the imposition of tax in the budget spec Capital Gain Tax (CGT) and its effects on seller as well as purchaser.
Best regards

Waseem® replied on Sunday, June 5, 2016 05:42 PM PST 

As per news its seems it will 10% Gain tax which has to be paid by seller as done in all property deals. 10% Gain tax means 10% tax on profit for a property sold within 5 years of purchasing.
>
(74119)
Sunday, June 5, 2016 03:13 PM PST 

Dear friends we have made some changes to speed up this website site and to restore its very useful powerful search function for entire past 13 years history in next few days.

You should see noticeable speed improvement. Some issues may be faced during this process . Need your help if you see any unusual thing please inform me.

ButtSaab® replied on Sunday, June 5, 2016 03:21 PM PST 

Sir,

You need to improve outlook of this discussion page as well, its way out dated.

Sheikh_at® replied on Sunday, June 5, 2016 03:37 PM PST 

To many errors while posting. Pl also correct this
>
(74118)
Sunday, June 5, 2016 02:58 PM PST 
>
(74117)
Sunday, June 5, 2016 01:59 PM PST 
New Taxes on Property

Dear CMY
Please educate us on the imposition of tax in the budget spec Capital Gain Tax (CGT) and its effects on seller as well as purchaser.
Best regards

Maqsood replied on Sunday, June 5, 2016 02:25 PM PST 

I also want to learn about this although CMY sb has already explained this.
Let me give an example and please correct me if I am wrong.
Today I bought a 1 kanal plot in
DHA Lahore worth 10 million rupees. However DC rate for that plot in today's date is 4 million rupees. If I'll sell this plot after 5 June 2021, there will no CGT. However if I'll sell this plot on 5 June 2020, say real plot price is 20 million rupees. I have to check for DC rate for that date. Say its 4.6 million rupees. I'll pay 10 percent of 0.6 million (4.6 mil -4.0 mil) which is 60,000 rupees.
If its true, then keeping in view that DC rates are normally much lower than actual market price, one wont pay very high CGT.

Salman replied on Sunday, June 5, 2016 02:31 PM PST 

What is the current Capital Gains tax rate?

Is it not already 10%?

Sachaadmi replied on Sunday, June 5, 2016 02:37 PM PST 

Logic of CGT is very simple , don't sell PLOT before 5 years if so then pay 10% of DC value.
For example: 1 kanal PLOT in Phase 8, DC rate is 33 lacs so we have to pay CGT = 3 lacs and 30 thousand if u wanna sale PLOT before 5 years.

Maqsood replied on Sunday, June 5, 2016 02:41 PM PST 

@Sachaadmi...I dont think this tax is on absolute price but on the difference aka "Capital Gain".
CGT formula is (Selling DC rate - Buying DC rate)*0.1

Boy® replied on Sunday, June 5, 2016 02:54 PM PST 

Maqsood you explained it totally right !

MNQ replied on Sunday, June 5, 2016 03:47 PM PST 

what about the file and non filer tax percentage that has been doubled

SIM replied on Sunday, June 5, 2016 03:54 PM PST 

How can overseas Pakistanis avoid this non filer tax? Has there been a withholding tax on property and rentals also?

tahir replied on Sunday, June 5, 2016 04:02 PM PST 

I think DC rates are value of property announced by Govt. So there is no selling and buying DC rates

So 10 % flat tax on DC rates will be deducted

I think after 30 June this should be 4 lac flat on selling of one kanal prism plot

Irfan UAE® replied on Sunday, June 5, 2016 04:15 PM PST 

What is this DC rate, please some one can explain?

Maqsood replied on Sunday, June 5, 2016 04:55 PM PST 

@tahir Let me make this easier for you.
"Gain" means profit. It means no profit no tax. It is a tax on profit only. Simple!
CGT = (DC rate on selling date - DC rate on buying date)*0.1
Can't make it easier than this.

User_P1876® replied on Sunday, June 5, 2016 05:17 PM PST 

Maqsood is absolutely correct.

Other ones Guys , please do not confuse a very simple thing - which is capital gain Tax , its only on Gain/Profit , not on actual value

kashif replied on Sunday, June 5, 2016 06:52 PM PST 

The problem is if you are selling at DC value then you will not be able to justify the actual selling price and DC value difference.

Your plot selling DC Value:40
Actual selling price: 100

How you will justify the remaining 60? Now FBR has started tracking thru bank channels. Will you take the risk of cash???

IM786® replied on Monday, June 6, 2016 01:04 AM PST 

Yes Kashif sb. This is the big problem. In that case 60 lac will be black money. Also buyer and seller both have to agree to show less value. Also Maqsood sb you said nothing is changed. Dear taxes has been doibled as mentioned by you.
>
(74116)
Sunday, June 5, 2016 12:39 PM PST 

Ad Type
City
Scheme
Phase
Block
Plot
Size
For Sale
lahore
dha phase 9 prism
9
R
2240
5 marla
Assalamu Alaikum Asim sahib

please is plot ko evaluate kar dain.

thanks

LRE® replied on Monday, June 6, 2016 02:28 PM PST 

Dear Sir,

Prism market value near R 2240 is around 46 to 48 lacs included 1st insatllment paid


ASIM IRFAN
+923224003475
LAHORE REAL ESTATE
EMAIL:INFO@LREPK.COM
>
(74114)
Sunday, June 5, 2016 08:19 AM PST 

Bhai log
Dha 9prism upper cutting ka plot j block
main kitne ka mil jaye ga.
>
(74111)
Sunday, June 5, 2016 04:38 AM PST 

Dear Experts,

Need advice, I have 4 Marla parkview commercial thinking of selling it and buy Ivy green commercial and 1 Kanal prism plot by adding some money. What do you suggest or should i buy dha 9 town 4 marla commercial. Or should i just hold this park view file
>
(74110)
Sunday, June 5, 2016 04:37 AM PST 
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