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

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   Kureshi®

Wednesday, June 29, 2016 06:18 AM 

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Its a sad news. Experts comments required.

AHMAD HASSAN® replied on Wednesday, June 29, 2016 06:25 AM  It should be like that. We should pay taxes and give space other to earn as well.

saima replied on Wednesday, June 29, 2016 06:53 AM  Is this tax on buying or selling what is ghair munkoola ?

Jameel Mughal® replied on Wednesday, June 29, 2016 06:57 AM  Case to case will open another way for corruption, this step will discourage many overseas investors. Market is Too dynamic goes up and down with only few buyers and sellers it is almost impossible if this property in 98 and will not be 88 next month. lets wait for details.

HussainD® replied on Wednesday, June 29, 2016 07:16 AM  I agree, it is going to open new doors for corruption. It could have been better to revise DC rates or something like that. I think it has been purposely done by FBR to open new avenue for their officers and grab some share from the booming property sector.

User_14317® replied on Wednesday, June 29, 2016 07:21 AM  This new change with CVT will be big Upset for investor with short term investment specially. In other way genuine buyer who want to make house will take benefit. In my opinion, Sharp price growth for hot properties will be stagnant now.

User_16051® replied on Wednesday, June 29, 2016 07:38 AM  yes unless this noora govt is in place. stagnancy is expected. BTW what they want actually ? where should ppl invest their savings... NAtl Savings is all time low now (its un-islamic riba as well)... is there any other safe option for general public to invest their fortunes and get good earnings ?? shutting non-productive investment and creating productive investment mode is understandable. but closing every avenue for general public ?? whts the logic behind ??

Kureshi® replied on Wednesday, June 29, 2016 08:35 AM  I wonder what will be the transfer fee of a 4 and 8 marla commercial plot. compared to DC value , market value is 10 times. Also how will you manage the sale in tax returns because at the time of purchase you fill up IT-5 form where you are almost forced to write the DC value of purchase. For phase 8 , DC value is 3 M while the market rate is 20 to 25 M. So if you sell before 5 years and show net gain of 15 to 20 M , which in actual is a gain of 2 to 5 M in 4 years based on DC value , how much gain tax one will be paying ?

Jameel Mughal® replied on Wednesday, June 29, 2016 08:46 AM  Khrshid's Question is valid, But looks once details come there will some mechanism gain cant be calculated like this.

M Arshad replied on Wednesday, June 29, 2016 09:40 AM  Dear Jameel Sb /CMY and other experts what would you asvice in current situation for any new investor. Should they wait for some time or not. I am about to buy in Prism one Kanal and with this development very confused.

S.Hameed® replied on Wednesday, June 29, 2016 10:23 AM  Instead of going case by case basis, it would be appropriate if our "hungry" Govt. can redefine DC rates of all the housing societies. This way people will pay more taxes to be used by our rulers for their overseas treatment and buying properties overseas (specially high rise towers in Dubai). Case by case basis will only open new doors for corruptio(N)!

Khalid Azad® replied on Wednesday, June 29, 2016 10:26 AM  In short it's going to welcome a big Slump in property. Good luck for genuine purchaser.

Habib replied on Wednesday, June 29, 2016 10:49 AM  I agree to Mr S Hameed This will good for Both Govt and investors. @ Khalid every June we are worried but never slump comes for 3,4 Lac extra Tax, Most movers and shakers are immune of Taxes, Open File No tax, Biana deals no Tax

Real Estate is best replied on Wednesday, June 29, 2016 10:58 AM  FBR is biggest "Chor" itself. this system of case to case evaluation is not pratical hence will not last for long despite implimented from 1 July

Real Estate is best replied on Wednesday, June 29, 2016 11:07 AM  till date what steps FBR took against Noora league who bought properties abroad with looted money?

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