In a recent development, Punjab has increased the DC rates on immovable properties in the province from 10% to 15% – applicable from July 1 onwards. This is obviously a very clever trick to get money out of the public’s pockets when people are under a lot of pressure due to the prevailing pandemic situation in the country. It is clever because the federal government had clearly highlighted not imposing any new taxes on property transactions for the new fiscal year.
Therefore, since there were no new taxes, the government decided to simply increase the existing rates. The increased DC rates of properties are going to further burden the already troubled people since almost everyone has suffered from the coronavirus pandemic and the steps taken to control it.