{"id":54223,"date":"2019-08-07T10:00:49","date_gmt":"2019-08-07T05:00:49","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=54223"},"modified":"2019-08-06T17:16:42","modified_gmt":"2019-08-06T12:16:42","slug":"cvt-collection-notices-sent-100-housing-schemes","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/cvt-collection-notices-sent-100-housing-schemes.html","title":{"rendered":"CVT collection notices sent to 100 housing schemes"},"content":{"rendered":"<p>Islamabad: The district administration\u2019s revenue department has sent notices to the developers of 100 approved and unapproved housing schemes in the federal capital for the collection of Capital Value Tax (CVT), according to a news source. Islamabad Deputy Commissioner Hamza Shafqat issued the orders to this effect.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/notices-sent-to-500-cvt-defaulters.html\" target=\"_blank\" rel=\"noopener noreferrer\">Notices sent to 500 CVT defaulters<\/a><\/p>\n<p>The collection of CVT from private developer had remained on hold since its imposition in 2012 after some private developers procured a stay order from the court. As per the original notice issued the same year, the CVT applicable on transfer of 1-kanal land in Islamabad\u2019s rural area was PKR 60,400.<\/p>\n<p>The case was finally taken by Revenue Additional Deputy Director Dr Hassan Waqar Cheema. The court recently gave ruling in favour of the revenue department, after which it commenced with the CVT collection process.<\/p>\n<p>Within three weeks of the court\u2019s verdict, the revenue department had collected PKR 60 million. The department has set a recovery target of PKR 80 million for the next month.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-reverts-property-valuation-rates-feb-2019-figures.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR reverts property valuation rates to Feb 2019 figures<\/a><\/p>\n<p>The developers have been advised to submit their dues by the deadline notified. In <a href=\"https:\/\/www.zameen.com\/news\/cda-to-take-action-against-commercial-property-tax-defaulters.html\" target=\"_blank\" rel=\"noopener noreferrer\">case of non-compliance<\/a>, the department will initiate legal action.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The district administration\u2019s revenue department has sent notices to the developers of 100 approved and unapproved housing schemes in the federal capital for the collection of Capital Value Tax (CVT), according to a news source. Islamabad Deputy Commissioner Hamza Shafqat issued the orders to this effect. Read:\u00a0Notices sent to 500 CVT defaulters The collection of CVT from private developer had remained on hold since its imposition in 2012 after some private developers procured a stay order from the court. As per the original notice issued the same year, the CVT applicable on transfer of 1-kanal land in Islamabad\u2019s rural area was PKR 60,400. The case was finally taken by Revenue Additional Deputy Director Dr Hassan Waqar Cheema. The court recently gave ruling in favour of the revenue department, after which it commenced with the CVT collection process. Within three weeks of the court\u2019s verdict, the revenue department had collected PKR 60 million. The department has set a recovery target of PKR 80 million for the next month. Read:\u00a0FBR reverts property valuation rates to Feb 2019 figures The developers have been advised to submit their dues by the deadline notified. In case of non-compliance, the department will initiate legal action.<\/p>\n","protected":false},"author":18,"featured_media":49732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[12514],"persona":[],"class_list":{"0":"post-54223","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-cvt-collection-notices-sent-to-100-housing-schemes"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CVT collection notices sent to 100 housing schemes - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The district administration\u2019s revenue department has sent notices to the developers of 100 approved and unapproved housing schemes in the\" \/>\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\/cvt-collection-notices-sent-100-housing-schemes.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CVT collection notices sent to 100 housing schemes - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The district administration\u2019s revenue department has sent notices to the developers of 100 approved and unapproved housing schemes in the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/cvt-collection-notices-sent-100-housing-schemes.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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