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

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   Thelma
Monday, October 31, 2016 05:28 PM 
Reply: >
Can someone please advise if this is a good time to buy or wait for more for further decline.
Observer replied on Tuesday, November 1, 2016 03:55 AM 

people are looking at each other to start buying first and waiting to get into tje stream. Taxes are not at all the big issue infact new taxes are tiny as compared to phenomenal gains in real estate sector. Dealers created unneccessary panic.
once political unrest settles people will jump in for buying and all these mega projects
Observer replied on Tuesday, November 1, 2016 03:56 AM 

wil reflect in propety prices
KK® replied on Tuesday, November 1, 2016 04:41 AM 

this stand still is not due to taxes but due to evidence of funds to be given to FBR i think
LOYAL PAKISTANI replied on Tuesday, November 1, 2016 01:44 PM 

.
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100% TRUE
FBR issue replied on Tuesday, November 1, 2016 03:49 PM 

To declare any gains on property, you have to file return and if you file that, you have to declare all your assets. That's the real issue and obviously FBR can ask source of funds.

If you do not file that and do not declare gains, you are again doing tax evasion and FBR can catch you anytime later with penalty.
KK® replied on Wednesday, November 2, 2016 12:32 PM 

Capital gain tax and filing are two separate issues, when you sell you have to pay CGT, even if you dont file returns its up to you but still you have already paid tax.. there is no compulsion to become filer
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