{"id":47980,"date":"2019-01-24T14:32:26","date_gmt":"2019-01-24T09:32:26","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=47980"},"modified":"2019-01-24T14:32:26","modified_gmt":"2019-01-24T09:32:26","slug":"mini-budget-interest-free-credit-for-low-cost-houses-announced","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/mini-budget-interest-free-credit-for-low-cost-houses-announced.html","title":{"rendered":"Mini Budget: interest-free credit for low-cost houses announced"},"content":{"rendered":"<p>Islamabad: The government on Wednesday announced a 19% rebate on income tax generated from loans to low-income housing, small businesses, and agricultural projects &#8211; a news source reported.<\/p>\n<p>Presenting the mini-budget, Finance Minister Asad Umar said that his government wanted to facilitate the nation\u2019s underprivileged segments. He said that an interest-free revolving credit (Qarz-e-Husna) provision of PKR 5 billion will be introduced to fund constructions of low-cost houses.<\/p>\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/ptea-lauds-measures-proposed-in-mini-budget.html\">PTEA lauds measures proposed in mini-budget<\/a><\/p>\n<p>Moreover, the government slashed the fixed tax on marriage halls by PKR 15,000. This tax has been cut down to PKR 5,000 from the existing amount of PKR 20,000.<\/p>\n<p>The executive further <a href=\"https:\/\/www.zameen.com\/news\/no-withholding-tax-on-filers-bank-transactions.html\">waived off the withholding tax<\/a> on banking deposits and transactions for filers. Similarly, small businesses have been exempted from paying withholding tax every month. Their owners will now have to submit returns twice every year.<\/p>\n<p>The government also plans to introduce a tax scheme in Islamabad to facilitate traders. Similarly, a 0.02 percent withholding tax on trading has been abolished.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The government on Wednesday announced a 19% rebate on income tax generated from loans to low-income housing, small businesses, and agricultural projects &#8211; a news source reported. Presenting the mini-budget, Finance Minister Asad Umar said that his government wanted to facilitate the nation\u2019s underprivileged segments. He said that an interest-free revolving credit (Qarz-e-Husna) provision of PKR 5 billion will be introduced to fund constructions of low-cost houses. Read: PTEA lauds measures proposed in mini-budget Moreover, the government slashed the fixed tax on marriage halls by PKR 15,000. This tax has been cut down to PKR 5,000 from the existing amount of PKR 20,000. The executive further waived off the withholding tax on banking deposits and transactions for filers. Similarly, small businesses have been exempted from paying withholding tax every month. Their owners will now have to submit returns twice every year. The government also plans to introduce a tax scheme in Islamabad to facilitate traders. Similarly, a 0.02 percent withholding tax on trading has been abolished.<\/p>\n","protected":false},"author":67,"featured_media":47981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[10081],"persona":[],"class_list":{"0":"post-47980","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-mini-budget-interest-free-credit-for-low-cost-houses-announced"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mini Budget: interest-free credit for low-cost houses announced - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The government on Wednesday announced a 19% rebate on income tax generated from loans to low-income housing, small businesses, and agricultural\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/mini-budget-interest-free-credit-for-low-cost-houses-announced.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mini Budget: interest-free credit for low-cost houses announced - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The government on Wednesday announced a 19% rebate on income tax generated from loans to low-income housing, small businesses, and agricultural\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/mini-budget-interest-free-credit-for-low-cost-houses-announced.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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