Preparing to impose heavy taxes on the real estate sector

Islam Abad (94 news) The government has started considering bringing the real estate sector into the tax net, increasing the tax rate on those who buy and sell property..

According to the details, consideration is being given to levy of gain tax, change in definition of personal immovable property is also being considered, real estate value declarations in different cities may also be increased. Three percent on properties worth up to Rs 5 crore, 7 Up to crores 4 Percentage and 10 On properties worth Rs 7 The percentage tax will be collected from the sellers of the property. Inclusion of capital gains in income is also under consideration. Three percent on property worth up to Rs 5 crore on property transactions under progressive taxation requirements by the IMF. 7 On properties worth up to Rs 4 Percentage and 10 On properties worth Rs 7 The percentage tax will be collected from the sellers.