{"id":49497,"date":"2019-02-19T17:32:50","date_gmt":"2019-02-19T12:32:50","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=49497"},"modified":"2020-06-16T14:34:21","modified_gmt":"2020-06-16T09:34:21","slug":"dc-rate-to-be-applicable-in-areas-without-fbr-rates","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/dc-rate-to-be-applicable-in-areas-without-fbr-rates.html","title":{"rendered":"DC rate to be applicable in areas without FBR rates"},"content":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has issued orders with regard to the areas where the valuation tables have not been revised \u2013 a news source reported.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/blog\/fbr-valuation-tables-2019-whats-coming-next.html\">FBR valuation tables 2019 \u2013 What\u2019s coming next?<\/a><\/p>\n<p>Withholding tax in these areas will be collected on the basis of the rates implemented by the deputy collector (DC). This practice is in line with FBR orders to streamline the transfer or sale process of immovable property.<\/p>\n<p>The federal institution has also issued relevant instructions to the provincial departments concerned. Moreover, it has asked to implement the valuation table only in those areas where fair market value has been calculated.<\/p>\n<p>Section 236C of the Income Tax Ordinance of 2001 makes it mandatory for an individual to pay withholding tax on sale or transfer of immovable property. This taxable amount is calculated as per the fair market value of locality where the property is situated.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-to-revise-valuation-tables-in-21-cities.html\">FBR to revise valuation tables in 21 cities<\/a><\/p>\n<p>For filers, the withholding tax is one percent, whereas the amount is two percent for non-filers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has issued orders with regard to the areas where the valuation tables have not been revised \u2013 a news source reported. Read:\u00a0FBR valuation tables 2019 \u2013 What\u2019s coming next? Withholding tax in these areas will be collected on the basis of the rates implemented by the deputy collector (DC). This practice is in line with FBR orders to streamline the transfer or sale process of immovable property. The federal institution has also issued relevant instructions to the provincial departments concerned. Moreover, it has asked to implement the valuation table only in those areas where fair market value has been calculated. Section 236C of the Income Tax Ordinance of 2001 makes it mandatory for an individual to pay withholding tax on sale or transfer of immovable property. This taxable amount is calculated as per the fair market value of locality where the property is situated. Read:\u00a0FBR to revise valuation tables in 21 cities For filers, the withholding tax is one percent, whereas the amount is two percent for non-filers.<\/p>\n","protected":false},"author":67,"featured_media":49504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[10570],"persona":[],"class_list":["post-49497","post","type-post","status-publish","format-standard","has-post-thumbnail","category-legal-taxation","tag-dc-rate-to-be-applicable-in-areas-without-fbr-rates","cat-15015-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DC rate to be applicable in areas without FBR rates - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has issued orders with regard to the areas where the valuation tables have not been revised \u2013 a news source\" \/>\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\/dc-rate-to-be-applicable-in-areas-without-fbr-rates.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DC rate to be applicable in areas without FBR rates - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has issued orders with regard to the areas where the valuation tables have not been revised \u2013 a news source\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/dc-rate-to-be-applicable-in-areas-without-fbr-rates.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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