First of all when I was buying the property, I didn't get any leverage for being a filer and I paid 2% CVT and 3% Stamp Duty.
So there is no half CVT and Stamp Duty for the filer.
I gave Rs:58000 as CVT and Rs:87000 Stamp Duty on the DC value. The plot was of Rs:5550000 and after paying the Taxes, dealers commission and the service charges, it coast me Rs:5754500. I invested all I have to gain few quick lacks as this government has not been able to provide employment to us. The only thing I figured out to take advantage of the Lahore's booming property.
So after two months I can sale the plot at Rs:5800000, on which I will be giving the gain tax this tax that tax. at 10% I will be giving again 4 lacks to the government on its DC value only if they haven't revised the old DC value.
So I am totally in loss. The average man who tried to earn his bread and butter got looted again by the government. And now please don't tell me that I should claim it, as we all know the system here.
So dear who ever thinks that the government is doing fine and it would help the country is totally wrong or they are the supporters of PML N or the property players who don't want investors to give it a thought and calculate it by themselves.
Jameel MughalŽ replied on Saturday, June 18, 2016 04:33 PM
when you transfer a property it should not be sold unless you have gained about 25%, Best way is to deal in 3 months Biana time or keep File open if Society allows you, The Tax will be same in This Govt or even more in any other coming Govts. Take into account an average Policeman is taking about a million Rs annual salary if you take into account all benefits. |
LOYAL PAKISTANI replied on Saturday, June 18, 2016 06:25 PM
Jameel sab
You are right. Point is that any other govt will make it the toughest as Imran says all investors are thieves and we will charge them properly.
But our people are so simple. |
PakistanŽ replied on Saturday, June 18, 2016 06:43 PM
agreed with JameelMughal
this only means that investors have to hold their properties for longer
sorry if you had to sell off your property due to some emergency
purpose of this property taxes is only to control flippers ... |
Salman.AŽ replied on Saturday, June 18, 2016 07:18 PM
First of all Property is an INVESTMENT not monthly bread and butter.
To make property your bread and butter you need to start dealing in property with office, where you will charge commissions and buy plots on BIANA along with your investors to make some money.
As an ordinary investor in Property please listen to jameel mughal sb. advice. at least gain 25% and then sell it. Also plan for long term holding power.
Lastly you paid extra stamp duty because of laziness of your dealer and you not being aware of the rules and taxes. It is not the fault of the government. And yes you can claim back your taxes which are with held with the government. Usually cash is not taken back but extra taxes are adjusted in your yearly returns. Any lawyer can do that on your behalf.
Any investor who thinks he is TARZAN of property and can make quick millions by shuffling his property every month is living in a fools paradise. |
KureshiŽ replied on Saturday, June 18, 2016 08:35 PM
Well said , Salman sb. "Tarzan" .... heheh |
ayla replied on Saturday, June 18, 2016 11:15 PM
Please don't bash short term investors I am also earning my bread and butter through short term investments but my dear prime minister has made is impossible for me. |
Not Registred Yes replied on Saturday, June 18, 2016 11:39 PM
I paid the CVT at 2% of the DC value and 3% Stamp Duty of the DC value. When I asked my dealer that what leverage I will get as a tax filer, he told me that it's same for the filer and non filer.
At what percent the filer is charged? Please elaborate! |
Not tegistered yet replied on Saturday, June 18, 2016 11:45 PM
At what percentage the CVT and Stamp Duty is charged from the tax filer?
Because I did ask my dealer to confirm it for me but he told me that its same for the filer and non filer at the time of purchase. |
Subhan replied on Sunday, June 19, 2016 04:20 AM
@ Not Registered Yet :
Ofcourse, pious fleet of politicians in combined opposition are likely to provide jobs to every jobless, withdraw all taxes, especially CVT + Stamp Duty, if they get into power. They would be true representation of whole nation, a nation which is sum total of you and me and who are undoubtedly more pious than anyone else on the whole Earth. Current regime lacks representation of national character, therefore, must step down. |
ayla replied on Sunday, June 19, 2016 04:31 AM
Non filer has to pay advance tax .i bought a plot in dha 7and paid 84thousand advance tax .it cost me 5 lacks to transfer plot in my name. My husband is afiler though |
