Real Estate

Yesterday, Lahore High Court abolished payment of 1% annual tax on real estate. The Federal Board of Revenue (FBR) has announced that non-resident individuals including non-resident Pakistanis are not required to pay tax on immovable properties under section 7E of the Income Tax Ordinance 2001. The Federal Board of Revenue (FBR) has implemented the judgment of the Lahore High Court (LHC) on Section 7E...

The district administration on Saturday started the process to fix prices of land to be acquired for the Rawalpindi Ring Road Project from Banth to Thalian. The price assessment committee is headed by Deputy Commissioner Mohammad Ali and comprises the additional commissioner revenue, assistant commissioners Saddar and Gujar Khan, the district attorney, director land and estate management of Rawalpindi...