Hi experts, need some advice please. This is regarding the recent balloting for cda park enclave.
At the time of application i submitted 10% down-payment. Now i got a plot assigned. I received the letter from cda, which mentions the future installments. Next installment is 20%. All good so far.
At the bottom of the letter there is a point that says:
"all applicable taxes as prescribed by the government / fbr to be paid within 30 days of the issuance of this letter"
There is no other information available. What is this tax? What is the percentage? How do i submit it?
Any help here would be greatly appreciated.
Dear Waleed Bhai,
Govt Imposed Advance tax of Under section 236C (Purchase or Immoveable Property) & 236K (Sale of Immoveable property) WIth the rate of 1% for filer & 2% for Non Filer on Total Value of the property. Further More Advance tax is Adjustable in your Income tax.
The transfering authority is responsible for collection/deduction of advance tax. But in some cases The Buyer or seller is also responsible if WHT Agent don't deduct.
Please contact CDA for further CDA Related Issue for this tax.
Regards,
Humayyun.
If CDA Says your resposniblity to Submit, Then you can MAke it from FBR Website, In efiling section of Incometax. Select You CNIC or NTN number and make advance tax challan. After making it, submit it in NBP.