Dear Experts,
I am an overseas Pakistani.I have 2 plots in DHA,one on my name ,the other on my wife s name.I want to know is there any property tax that we will have to pay?? What is the law regarding this?
Please help.
JJJ replied on Sunday, April 7, 2013 03:40 PM
Property tax is not on plots but houses and as an overseas Pakistani you don't even have to submit Income tax return as you don't earn in Pakistan. Assets use to have wealth tax about 10/12 years ago which is not in implement any more. Just relax and enjoy. |
property tax query replied on Sunday, April 7, 2013 04:15 PM
Thanks JJJ for you reply.I really appreciate.
I do not have dual citizenship yet,however I earn my income from abroad.Therefore in this case still,I wont have to pay any tax??
Secondly if I buy more property in Pakistan,I will not pay any tax too?
Kindly comment. |
JJJ replied on Sunday, April 7, 2013 05:54 PM
Yes there is no tax on property until now, you can buy as many plots as you like but there was a notification recently about 8/10 months ago regarding Capital gain tax. As per notification, if you sell any of your property within 2 years of purchase, there would be CGT on gain. Not sure if that is in implement. |
overseas replied on Monday, April 8, 2013 10:02 AM
Bro, Im an overseas Pakistani, have some rantal income in Pakistan, should I need to file return ? |
Khan replied on Monday, April 8, 2013 11:29 AM
No, you do not have to file return but have to pay tax property tax due to rental income. |
