Prime Minister Imran Khan chaired the weekly meeting of National Coordinating Committee for Housing, Construction and Development. The Chairman CDA briefed the meeting regarding the construction work in Sector E-11, Islamabad. The meeting was informed that separate rules have been framed for the projects in this sector and the pending projects will be completed soon. It was informed that in all new...
Federal Board of Revenue (FBR) has made significant changes in the taxation of capital gains on disposal of immovable property of Pakistan. Amendment in the Income Tax Ordinance 2002, through the Finance Act 2020, reduces holding period and tax rates on different amounts for computation of capital gains on disposal of immovable property According to a Circular No. 3 issued on September 3, 2020 by...
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 sector of Pakistan considered as the multi-million $ industry of country, the biggest sector of job employment and once used to contributes over 2% of total GDP of Pakistan. Now due to uncertainty in the Real Estate and its reforms, business in this sector fell and due tot he reason Govt got only Rs23 million or less than 0.1% of the size of national economy in the previous fiscal...
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...
In the absence of a focused national policy and lack of regulatory framework, the existing laws has failed to maintain a vigilant and a system of proper check and balance in this sector, which results in the general public as well as commercial investors losing their hard earned money at the hands of felons and other factors, causing instability in the sector and further disrupting the ease of doing...
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