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   FRIEND KSA
Saturday, November 22, 2014 05:31 AM 
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Dear Friends ,can somebody can guide or has personal experience about this matter.i want to transfer good amount of money in the form of US DOLLARS but i dont have dollar account in pakistan but my brother in law has.So if i transfer it through brother in law's account and later buy property in pakistan with that dollars .Can i present my recipe of transfer from SAUDIA and justify INCOME TEX people.thanks
Baba replied on Saturday, November 22, 2014 08:15 AM 

You don't need to show the source of income at the time of purchasing property in Pakistan, if you have nicop issued by Pakistan embassy in abroad.
This is my personal experience.
Abdullah replied on Saturday, November 22, 2014 01:19 PM 

AOA,
No it is not a good idea to send the money on your brother in law dollar account.
Kindly open your own dollar account to send your money on your own name, then it would be easy to justify your assets in Pakistan, to the TAX office. NICOP alone is not enough. To open a dollar account in Pakistan, you need to show the proof of your employment letter or salary latest slip from the company abroad.

Asalam,
Abdullah
pakistan replied on Sunday, November 23, 2014 03:18 AM 

no1 asks source of income at the time of purchasing property or even Helicopter in Pakistan just bring money back here and convert them into rupees (or ur own rs account) to purchase
iam23m replied on Sunday, November 23, 2014 03:18 AM 

My advise is to send money directly to your very own account ( probably in saudi Saamba speed cash is goving you much better rate.
iam23m replied on Sunday, November 23, 2014 04:56 PM 

Not safe to send through Dollar.
As it is not your own account ( brother in law) risk 1
Again you have to change from dollar to rupee. risk 2

Dollar is going to devalue Risk 3


My advise is to send money directly to your very own account ( probably in saudi Saamba speed cash is goving you much better rate.

Decision is your own
ZA - Riyadh replied on Sunday, November 23, 2014 04:57 PM 

Dear,

I sent US Dollors from AL Rahji and received in Rupees (my brother's Habib Bank Account) and purchased DHA plot in July 2014 without any problem or question.

Regads
SIM replied on Sunday, November 23, 2014 04:58 PM 

There wont be any question asked at the time of purchase, but later on you have to prove the source of income at any stage. FBR is following all the transactions and even if you are an overseas pakistani, you have to prove your funds.
Tax adviser replied on Sunday, November 23, 2014 05:02 PM 

For tax point of view, Income tax department can ask you any time in future for the source of money against any plot of property purchased. You should have all the documentation to send money with legal banking channel. Asset purchased against any foreign remittance are exempt for any kind of tax currently but you should keep record if in future anyone asks.
FRIEND KSA replied on Monday, November 24, 2014 03:21 AM 

Thanking you all brothers
Rana replied on Tuesday, November 25, 2014 03:15 AM 

You don't need USDollar account at all if you eventually have to transfer into Pak Rupee, Do you already have or mantaining Pak rupee account in pakistan if so then go to AlRaji and given them your Pak Rupee a/c number with swift code and tell AlRaji staff to instruct with standing instruction that once trasaction hit the a/c convert my funds into Pak Rupee as per conversion rate of the day. (Simple is that).
Bringing into brother in laws a/c is not a good idea.
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