Federal Board of Revenue (FBR) has said that every cash transaction worth Rs 2 million or above for the purpose of sale or purchase of property is required to be reported. According to a report by ARY News, FBR has issued guidelines for real estate agents (REAs) under the Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regime brought in to meet the requirements of the Paris-based...
Real Estate is one of the major sector for generation & investment of unaccounted money known as “black money”. The Benami Act is to curb black money transactions to ensure that all real estate transactions are conducted in the name of the actual owner where the consideration is paid from his known sources. Parliament approved the law in January 2017 and the president gave his stamp of approval...
Real Estate is one of the major sectors for generation & investment of unaccounted money known as "black money". The Benami Act is to curb black money transactions to ensure that all real estate transactions are conducted in the name of the actual owner where the consideration is paid from his known sources. This will increase the tax revenue for the Govt by stopping black money from pumping...
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