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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.
Muhammad Asi..
( 25 posts )

[69 Replies]
Hi

As per the new law,
Will the buyer will also pay the tax money ? Or only seller?

How much i have to pay, ifi am buying a house of 10 million pkr?

    1208 days ago In Buying Process
    Post Answer
    Shah
    (10 posts)
    It depends on which tax you are asking about. Capital gain advance income tax stamp duty or something else.
      1208 days ago 

      MKhan
      (66 posts)
      Please list taxes to be paid by buyer as well as seller?



      And the new percentage?
        1207 days ago 

        Ahsan Bhatti
        (82 posts)
        Dear @asif ,Cvt,stamp duty & advance tax has to be paid by the purchaser, while the seller ll pay CGT (capital gain tax) on the amount of calculated gain.
          1207 days ago 

          MKhan
          (66 posts)
          Thanks Hisham Sb,



          Could you please compute the latest CVT, Stamp duty and advance Tax for property purchased at 1 lac as an example?

          I think these have no time limitation.
            1207 days ago 

            Ahsan Bhatti
            (82 posts)
            Yes Khan sb, these are the taxes that has to be paid by the purchaser at the time of transfer,so no time limitation. Percentage of taxes is as below:



            CVT: 2%

            Stamp-Duty:3%

            Advance tax:2% for tax-filer & 4% for non filer.
              1207 days ago 

              MKhan
              (66 posts)
              Thanks Hisham.
                1207 days ago 

                Ahsan Bhatti
                (82 posts)
                Pleasure is all mine..Khan sb :)
                  1207 days ago 

                  Falcon
                  (4444 posts)
                  But one advantage for filers..Advance tax is adjustable for filers in final returns.
                    1207 days ago 

                    Kami
                    (24 posts)
                    Hisham, so the total tax on 1 lac property will 9000 for non tax filer. Too much
                      1207 days ago 

                      Kashif Sheik..
                      (604 posts)
                      The tax will be calculated based on the value provided in the market valuation table to be released by FBR, not on the actual transaction price. If you sale for less than the value in the table, FBR will not accept it. If you sell it for more than their value but only show the amount mentioned in the official table, they cannot question it. Only if you Declare a higher value can the FBR ask for an additional payment if they detect that in audit.
                        1207 days ago 

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