Disscussion Question and answers regarding New imposed property Taxes from Government after July 2016
Today everything will be final with government regarding taxes and market will be normal and start.. InshaAllah
Let’s hope do. N what is likely to b agreed?
If phase 9 price according to markete is 80 lacs .. Government will assume 50% according to this rate will be of kanal 40 lacs .. We are saying will be 70 % less from market price according to this it is 30 lacs .. Previous was 20 lacs
Government is agree on 50%
All dealers association are saying tax should be less 60-70 % ..
Today will be final
Phase 7 market price 90 lacs .. According to government dc rate 50% is 45 lacs .. We are trying on 35 lacs
What Abt the income tax amendment?
Wd the new DC rate b acceptable to the Income tax as final valuation for wealth tax or not
And on previous transactions.. If investor have to show or maje his profit money into white money .. They can give 2% tax on profit.. And he can made his money white .. If someone have buy plot on 20 Lacs .. Sell on 40 lacs .. He can pay 2% on 20 lacs which is 2 lacs .. And his money is white now..
Yes Dc rate is acceptable
Ok let’s see. What is the final outcome
Today final notification will be issue
What is the impact on the market?
I understand the prices hv come down considerably.
Market will be start like previous.. Still market rates are same in Lahore markete
But the smaller plots r at same rates
But after the notification prices will come down little..
Yes smaler plots will be same