I purchased a property in March 2015 and I sold it today (September 2016). What is the applicable rate for Capital Gains. 7.5% or 5%.
I remember that Ishaq Dar said that for all property purchased before 1-July-2016, the rate of CGT is flat 5%.
Is there any SRO or document that I can refer to.
Jameel Mughal® replied on Tuesday, September 27, 2016 01:28 PM
I Think 10% of Gain Flat for 3 ys , the Only issue is to Calculate gain as you decaled DC rate and Now will be paying 10% of the difference between old DC Rate and Current fair price . |
KK® replied on Tuesday, September 27, 2016 01:49 PM
its 5% for you, flat rate for first year |
CMY replied on Tuesday, September 27, 2016 02:10 PM
Jameel Mughal sahib your answer is correct. Any property purchased before July 1st 2016 will have only flat 5% rate if tax filer for capital gains tax. No tax is property if less than 40 lacs FabR value. No tax regardless of value if property had 1st allocation against affidavit bought ladt year. |
SLICHSPH2 replied on Tuesday, September 27, 2016 02:29 PM
@CMY
Do you think they will develop estate life phase 2? |
azam khan replied on Tuesday, September 27, 2016 04:27 PM
there is a discussion going on tht first allotee doesn't have to pay tax....is it true plus if any one can repeat the tax slab of 5% 7.5% & 0%. thx |
