{"id":57515,"date":"2019-11-12T17:52:29","date_gmt":"2019-11-12T12:52:29","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=57515"},"modified":"2020-08-28T13:46:11","modified_gmt":"2020-08-28T08:46:11","slug":"fbr-seeks-fda-data-to-identify-misdeclaration-of-immovable-assets","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-seeks-fda-data-to-identify-misdeclaration-of-immovable-assets.html","title":{"rendered":"FBR seeks FDA data to identify misdeclaration of immovable assets"},"content":{"rendered":"<p>Faisalabad: The Federal Board of Revenue (FBR) has instructed the Faisalabad Development Authority to share with it the data containing records of property transactions conducted during the last three years, a news source reported. The board recently reported on several incidents where property owners quoted wrong figures during the sales deed registering process.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-to-conduct-digital-survey-of-immovable-properties.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR to conduct digital survey of immovable properties<\/a><\/p>\n<p>As per reports, misdeclarations in Faisalabad alone have caused a loss of hundreds of million of rupees to the national exchequer in terms of <a href=\"https:\/\/www.zameen.com\/news\/property-tax-collection-target-for-faisalabad-increased.html\" target=\"_blank\" rel=\"noopener noreferrer\">property taxes<\/a>. The FBR has now decided to deal with the culprits by taking legal action against people who have misquoted the value of their property purchased and\/or sold during the last three years.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-ensure-realtors-maintain-beneficial-owners-records.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR to ensure realtors maintain beneficial owners&#8217; records<\/a><\/p>\n<p>The FDA data will help the FBR identify the cases where the rates mentioned on transfer documents are much lower than the price at which the property was actually sold or purchased. For this purpose, the price mentioned in the transfer document will be compared with the data maintained by the department that maintains properties\u2019 registry record. In addition to identifying the cases of miss declaration, the FBR will also identify benami properties.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-to-take-action-against-wealthy-non-taxpayers.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR to take action against wealthy non-taxpayers<\/a><\/p>\n<p>For more information in this regard, stay tuned to Zameen News.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Faisalabad: The Federal Board of Revenue (FBR) has instructed the Faisalabad Development Authority to share with it the data containing records of property transactions conducted during the last three years, a news source reported. The board recently reported on several incidents where property owners quoted wrong figures during the sales deed registering process. Read:\u00a0FBR to conduct digital survey of immovable properties As per reports, misdeclarations in Faisalabad alone have caused a loss of hundreds of million of rupees to the national exchequer in terms of property taxes. The FBR has now decided to deal with the culprits by taking legal action against people who have misquoted the value of their property purchased and\/or sold during the last three years. Read:\u00a0FBR to ensure realtors maintain beneficial owners&#8217; records The FDA data will help the FBR identify the cases where the rates mentioned on transfer documents are much lower than the price at which the property was actually sold or purchased. For this purpose, the price mentioned in the transfer document will be compared with the data maintained by the department that maintains properties\u2019 registry record. In addition to identifying the cases of miss declaration, the FBR will also identify benami properties.&hellip;<\/p>\n","protected":false},"author":18,"featured_media":25713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[13925],"persona":[],"class_list":["post-57515","post","type-post","status-publish","format-standard","has-post-thumbnail","category-legal-taxation","tag-fbr-seeks-fda-data-to-identify-misdeclaration-of-immovable-assets-in-faisalabad","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>FBR seeks FDA data to identify misdeclaration of immovable assets - Zameen News<\/title>\n<meta name=\"description\" content=\"Faisalabad: The Federal Board of Revenue (FBR) has instructed the Faisalabad Development Authority to share with it the data containing records of\" \/>\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\/fbr-seeks-fda-data-to-identify-misdeclaration-of-immovable-assets.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR seeks FDA data to identify misdeclaration of immovable assets - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Faisalabad: The Federal Board of Revenue (FBR) has instructed the Faisalabad Development Authority to share with it the data containing records of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-seeks-fda-data-to-identify-misdeclaration-of-immovable-assets.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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