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Capital Gain Tax,

(72523)
Friday, June 1, 2012 05:46 PM 

would some one describe the detail of Gain Tax in real estate
Sale with in One year 10%
Sale with in 2 years 5%
of what? DC rate or Gain??
How would FBR would know about gain? where as now a days there is no documentation of sale and purchase price on transfer deed.

Khan replied on Friday, June 1, 2012 11:25 PM 

Good question and answer!

Habib replied on Saturday, June 2, 2012 03:17 AM 

It is recently imposed in current Budget , People of this forum were waiting for long, if I equate it with stocks where it is already there it is 10% of Difeerence of sale and pucahse price.
still details are waited, I dont know what CBR is going to get out of this , usually there is no gains in one year people sell the property due to some issue only, the real gain is after many years,
That is true also the people voulutarily never disclose the cost in the deal or at time of registration, in that case will gain be calculated on any change of DC rate during that period?
I think we should wait for details that may be availble in one or 2 weeks.
The Only purpose looks that Govt want to crub the quick sale or anticiapes that shot sellers are not real buyers rather traders, what ever the total gain CBR is going to get out of it be only nomial

Ahmed replied on Saturday, June 2, 2012 03:46 PM 

If they will consider the valuation of plot based on the Phase/block wise, i.e. DHA-6 B Block average price is 100 lac, accordingly selling of low price plots in same area will be in advantage.

Onlooker replied on Saturday, June 2, 2012 04:43 PM 

Capital gain tax on stocks was introduced more than a year ago. Till today the form to be used as return could not be designed. So CGT on property also seems to be another such scheme with no followup details.
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