Dear LRE and friends!
I am a regular tax filer. I have a question that if i bought a home at a cost of 20 million but registry is done at 5 million, then is it illegal ? Filing of wealth statement will be done at 20 million because other wise it will not reconcile. Please elaborate dc rate and fbr rate. And other taces on buying of home.
thinker replied on Sunday, November 25, 2018 11:40 AM
As per the latest law, the Govt has the right to buy your property at its twice the declared rate ie 10 million within one year. Its not being implemented yet due to administrative problems but the law is there. zero chance of this happening.
DC rates and FBR rates have been abolished since this last budget |
