Pakistan Real Estate Today

22/03/2023

Pakistan Day 23 March !

14/09/2022

https://www.facebook.com/725427464477757/posts/1730676493952844/

Dead ? Real Estate Estate Sector Pakistan ,

The Government is considering withdrawing 20% deemed income tax imposed on the real estate sector in the budget that may dent its revenues by another 15 Billion, taking the total relief under consideration for the top five influential Businesses to 75 Billion.
A top government official confirmed that proposal is under consideration after the real estate sector complained about slowing down of business since July. He said that the final decision was pending.

New Section 7E has been introduced in the Income Tax Ordinance whereby a resident who derives income equal to 5% of the fair market value of the capital assets situated in Pakistan, will be charged tax at the rate of 20%. The FBR has said that the effective tax rate is 1%.

Before approval of the law, the Government made certain changes to the definition of properties that will be subject to the levy and resultantly the additional revenue estimates were reduced to 15 Billion.

27/08/2022

We Are With You , Flood Affectees Of Sindh , Balochistan ,
Real Estate Sector Pakistan and Our Estate Community Stand With you .

Episode 1 .
27-08-2022

Dear Friend It's Time wakeup and to help , Stand With Your Brothers Affected By Flood , We are Having A Self Oriented Welfare Program For affectees of Sindh , By Monday Inshaa Allah, anyone who is Interested To Donate anything Can Coordinate via WhatsApp Or Call . My Allah Accept All the true Efforts on this Critical Condition.

Mohammad Imran Jaffar
923008266602
https://wa.me/message/CYMJI7P3IRABC1

Follow our Page For More info Current Situation of interior Sindh .

17/08/2022

Dead ? Real Estate Estate Sector Pakistan ,

The Government is considering withdrawing 20% deemed income tax imposed on the real estate sector in the budget that may dent its revenues by another 15 Billion, taking the total relief under consideration for the top five influential Businesses to 75 Billion.
A top government official confirmed that proposal is under consideration after the real estate sector complained about slowing down of business since July. He said that the final decision was pending.

New Section 7E has been introduced in the Income Tax Ordinance whereby a resident who derives income equal to 5% of the fair market value of the capital assets situated in Pakistan, will be charged tax at the rate of 20%. The FBR has said that the effective tax rate is 1%.

Before approval of the law, the Government made certain changes to the definition of properties that will be subject to the levy and resultantly the additional revenue estimates were reduced to 15 Billion.

07/08/2022

The record-breaking Historic 90.18m throw from Nadeem Arshad which made him first-ever South Asian athlete to cross the 90m barrier in Javelin.

04/08/2022

Congrats 🎉 Nooh Dastagir Win Gold Medal For Pakistan

03/08/2022

Black Day ?

بلوچستان میں سیلاب زدگان کی مدد میں مصروف ہیلی کاپٹر تباہ ہونے کے افسوس

ناک حادثے میں شہید ہونے والے افسروں اور عملہ

بریگیڈئیرامجد حنیف

ڈائریکٹرجنرل کوسٹ گارڈ

بریگیڈئیر خالدکمانڈرکورانجنیئر12 کور

میجر سعید (پائیلٹ)

میجرطلحہ (پائیلٹ)

نائیک مدثر

پاک فوج زندہ باد

19/07/2022

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18/07/2022

Dark Side ? Heavy Taxes
For Estate Sector Pakistan.

List of pros in finance act 2022-2023 for real estate sector are unfortunately nill while cons for this sector are mentioned below.A new Section 7E has been made part of finance act which would charge from the owners of open plots a new tax as deemed rental value tax @20%.Withholding tax under 236k has been enhanced by 100% for filers and 250% for non-filers.Advance tax(capital gains)under section 236c is enhanced by 100% for filers and 250% for non filers.Inherited and gifted properties have been made liable for capital gain tax and for this purpose sub section 4A of section 37 has been omitted,due to which purchase price would be considered as zero and sale price at current FBR valuation making these properties liable for 100% capital gain tax which is totally unjustified and comes under unfair taxation.Holding period for purpose of calculating capital gains under section 37(1A) has been increased from 4years to 6 years with enhanced percentages starting from 15%,if the immovable property is disposed off during the first year of purchase.Section 236C sub section 3c has been omitted due to which every immovable property would become liable for capital gain tax irrespective of any holding period.The impact of the above unfair taxations on real estate sector would be negative and market prices can be dragged down.These ruthless taxes need to be rationalized as soon as possible to remove the uncertainty.

-23

10/07/2022

السلام وعلیکم ورحمتہ اللہ وبرکاتہ
میری طرف سے تمام احباب
کو بقر عید کی خوشیاں مبارک ہوں ۔
اس موقع پر اللّٰہ رب العالمین کے حضور دعا ہے کہ اللّٰہ رب العزت ہم سب کی قربانیوں کو اپنی بارگاہ میں قبول و منظور فرمائے اور آخرت کے لئے ذخیرہ بنائے

آمین یا رب العالمین