Brothers AOA , I need to know exact tax on my plot in Phase 7 which I sold for 160.75 ( no commission ) . Transfer is next Wednesday .
I am least interested in CGT , Hi tea , Black tea ..bus bhai ye bata do tax kitna aur pocket mein kitne
Waseem® replied on Saturday, July 30, 2016 04:04 PM
What was this plot purchased ? within 3 years ? |
New replied on Saturday, July 30, 2016 04:32 PM
5 percent which is 8 lac if you file cgt otherwise nothing only wht in your case |
Waseem® replied on Saturday, July 30, 2016 05:06 PM
5% will be on the difference between purchase price & selling price. That is straight from the horse's mouth (Mr. Ishaq Dar). |
User_13548® replied on Saturday, July 30, 2016 07:26 PM
Dear all, please do not be mistaken from cgt as it would be 5% on the profit only and not on the plot price. Kindly update yourself and relax. Example plot purchase at 50 lac, sold at 60 lac, profit gain is 10 lac, now 5% of 10 lac only. |
Asif Sardar replied on Sunday, July 31, 2016 10:09 AM
Rana Sab ,
At what price you bought this plot?
Lets say you bought in 150 Lax (in year 2016) and now the price is 160 Lax.
If you sell now this plot in 160lax then the total gain or total profit is 10 lax.
Considering 10% CGT over 10 lax, you need to pay 100,000 Rupee tax.
In other words your property value is 159 lax.
Case 2:
Plot bought in 155 lax in 2016.
Selling in 160 lax in 2016
Capital Gain / Profit is 5 lax.
CG Tax (@10%) will be 50,000 Rupee. |
