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FBR Ordered to Revoke to Recently Revised Property Valuation Rates

The Senate Standing Committee on Finance, Revenue, and Economic Affairs has recommended the Federal Board of Revenue (FBR) to revoke the recently issued SRO with regard to the revised valuation of immovable properties. The meeting of the Senate Standing Committee on Finance, Revenue, and Economic Affairs was held under the Chairmanship of Senator Talha Mehmood at Parliament House. Senator Kamil Ali...

GAIN ON DISPOSAL OF IMMOVABLE PROPERTY (SECTION-37) FBR 2021

A separate block of taxation of capital gain on the sale of immoveable property is available under the Ordinance. The gain arising on the disposal of immovable property for more than 4 years, is not taxable. The capital gain arising on the disposal of immovable properties is taxable to extent of 100%, 75%, 50% and 25%, if property is sold within 1, 2, 3 and 4 years respectively. The gain so calculated...

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