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Buying Process discussions and advice. Participate in ongoing dicussions and get invaluable Buying Process advice from people who are experts in their industries or start a new Buying Process discussion.
JDM
( 730 posts )

[9 Replies]
Moral defeat: pmln fails to get tax amnesty bill passed.

Does this means previous tax regime on real estate will remain in place?

https://tribune.com.pk/story/1693392/2-moral-defeat-pml-n-fails-get-tax-amnesty-bills-passed-na-panel/

    833 days ago In Buying Process
    Post Answer
    Naeem
    (146 posts)
    Government has played very cleverly, making the clause that non filers won't be able to buy plot worth more than 4 millions.

    I don't think it would revoke in senate.
      829 days ago 

      JDM
      (730 posts)
      It's passed from the committee and included in budget. Probably NA will approve also but it will be effective from July 1st.

      However, supreme court or upcoming government will have the right abolish it.
        829 days ago 

        Naeem
        (146 posts)
        Sir, I think new elected government would have no ground to abolish it why'd will they do that
          828 days ago 

          Inamullah Kh..
          (92 posts)
          It could be wish of individuals who may directly affect due to tax otherwise there is no rationale abolishing it in the contexf of country's bdnefit.
            828 days ago 

            Naeem
            (146 posts)
            I'm supposed to sell a plot in some time for construction of my house, what you people advise me should I sell it before 1st July or after?
              828 days ago 

              YC
              (456 posts)
              @Naeem

              Which size plot and where, nobody knows what will the market be but I guess genuine transactions will continue

              The condition that non filed cant buy more than 4 million will have a definite impact on transaction volume
                828 days ago 

                JDM
                (730 posts)
                Naeem,

                So you see no illegality when a government who has only 30 days (mandate) left in their tenure decides the fate of whole country for the next 14 months. What happened to voter ko izzat do.

                BTW, constitution clearly states that only care-taker government can make transitional budget to cover short period. No where in constitution it says that outgoing government has this right.

                If I am wrong please correct me with reference to the law of the land.

                As far your concern about your plot. Please keep it and do not sell for 1 more year. Good days are coming for Pakistan when current haramkhor tola will leave PM office and fresh rain of investments start to come from overseas Pakistanis.
                  828 days ago 

                  @li
                  (337 posts)
                  Naeem sir!, it depends when you want to start construction. I guess your intention will be after moonsoon season. Till that time dust will be settled and i suggest that October will be time to sell.
                    827 days ago 

                    Naeem
                    (146 posts)
                    Sir JDM, This doesn't matter whoever implement it.

                    All I know that this clause is beneficial for Pakistan it will bring millions of real estate investors in tax regime. Especially the ones who doubles their investments after every 3 years and and pay next to nothing to government.

                    You've seen the rise and fall of prices especially in B17 due to dealer games. I'm sure we'll see a reduction in that
                      827 days ago 

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