I have just uploaded new and full video with all details about taxes. Please watch this important video to fully understand how the new taxes will be imposed.
https://youtu.be/vsyNEvoTNHg
Please also note capital gains tax will be charged as per Fair Value Chart made by FBR with property dealers suggestions which is almost 200 to 300% higher than the present DC rates in 21 cities of Pakistan.
You will pay capital gains tax on profit amounts only when you will file tax returns and profits amount subjected to gains tax will be after deductions of your property transfer fees and dealers commissions etc.
But since its a provincial matter to set own DC rates CVT/Stamp duty will be charged on provincial DC rates which are also being increased by 35 % in Punjab on average from last years DC rates. It is understand able increase as property in Lahore have almost doubled since last in most projects.
I strongly suggest and request all dealers buyers sellers to use FBR market rates table in their sale deeds. Must tell your dealers to write only FBR market value in sale deed and pay order should be made only for that amount even if actual price is higher or lower. (Text me on Whatsapp to know the impact and great benefit / reason of this suggestion)
Choudry Mujahid Yasin ( CMY )
Please do me a favor do save my both phone numbers on your phone contacts list + & +
