{"id":88696,"date":"2022-09-15T13:00:52","date_gmt":"2022-09-15T08:00:52","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=88696"},"modified":"2022-09-15T13:00:57","modified_gmt":"2022-09-15T08:00:57","slug":"new-policy-house-tax-cantonment-areas","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/new-policy-house-tax-cantonment-areas.html","title":{"rendered":"New policy introduced for taxes on houses in cantonment areas"},"content":{"rendered":"\n<p>Rawalpindi: A new policy has been introduced to collect taxes from self-occupied residential properties in cantonment areas across the country, according to news published on September 13.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/new-taxes-real-estate-sector.html\" target=\"_blank\" rel=\"noreferrer noopener\">Budget 2022-23: Govt proposes new taxes on real estate sector<\/a><\/p>\n\n\n\n<p>As per the notification issued by the Military Lands and Cantonments (ML&amp;C) Department, the share of house tax in the Cantonment Board\u2019s tax collection is 35%. According to a study, it was discovered that 15% of tax on annual rental value was not being collected from the self-occupied properties. The critics stated that the self-occupiers will be treated as tenants under the new policy and will have to pay a tax equivalent to the house rent.&nbsp;<\/p>\n\n\n\n<p>Under the new policy, a <a href=\"https:\/\/www.zameen.com\/news\/cbm-offers-15-rebate-payment-house-tax.html\" target=\"_blank\" rel=\"noreferrer noopener\">15% rebate <\/a>on annual rental value will be applicable depending on the property\u2019s construction period. The following are the details:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>If the property was constructed less than five years ago, no 15% tax rebate will be charged\u00a0<\/li><li>For the houses constructed within the last 10 years, the tax credit will be charged at 5%<\/li><li>For houses built between 10 and 20 years, the tax rebate will be 7.5%\u00a0<\/li><li>For houses built between 20 and 30 years, the tax rebate will be 10%\u00a0<\/li><\/ul>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/rda-to-revise-building-by-laws-in-cantonment-other-areas.html\" target=\"_blank\" rel=\"noreferrer noopener\">RDA to revise building by-laws in cantonment, other areas<\/a><\/p>\n\n\n\n<p>Moreover, for houses with a construction period longer than 30 years, the rebate will depend on the land value. It was mentioned that there will be no exemption for flats and apartments constructed more than 50 years ago.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rawalpindi: A new policy has been introduced to collect taxes from self-occupied residential properties in cantonment areas across the country, according to news published on September 13.\u00a0 Read: Budget 2022-23: Govt proposes new taxes on real estate sector As per the notification issued by the Military Lands and Cantonments (ML&amp;C) Department, the share of house tax in the Cantonment Board\u2019s tax collection is 35%. According to a study, it was discovered that 15% of tax on annual rental value was not being collected from the self-occupied properties. The critics stated that the self-occupiers will be treated as tenants under the new policy and will have to pay a tax equivalent to the house rent.&nbsp; Under the new policy, a 15% rebate on annual rental value will be applicable depending on the property\u2019s construction period. The following are the details: If the property was constructed less than five years ago, no 15% tax rebate will be charged\u00a0 For the houses constructed within the last 10 years, the tax credit will be charged at 5% For houses built between 10 and 20 years, the tax rebate will be 7.5%\u00a0 For houses built between 20 and 30 years, the tax rebate will be&hellip;<\/p>\n","protected":false},"author":83,"featured_media":63123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[54092,54093],"persona":[],"class_list":{"0":"post-88696","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-new-policy-introduced-for-taxes-on-houses-in-cantonment-areas","9":"tag-taxes-on-houses-in-cantonment-areas","10":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New policy introduced for house tax in cantonment areas- Zameen News<\/title>\n<meta name=\"description\" content=\"A new policy has been introduced to collect taxes from self-occupied residential properties in cantonment areas across the country.....\" \/>\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\/new-policy-house-tax-cantonment-areas.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New policy introduced for house tax in cantonment areas- Zameen News\" \/>\n<meta property=\"og:description\" content=\"A new policy has been introduced to collect taxes from self-occupied residential properties in cantonment areas across the country.....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/new-policy-house-tax-cantonment-areas.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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