Finance Act, 2026 sets fair market value rule for inherited property
Government revises Finance Bill proposal by linking inherited property’s cost to transfer date instead of original owner’s death
Continue Reading
Tag: property valuation
Real estate pushes for income disclosure exemption on property
Islamabad – The real estate sector has urged the National Assembly Standing Committee on Finance and Revenue to amend “The Tax Laws (Amendment) Bill, 2024” to allow property transactions of up to Rs 50 million without requiring buyers to disclose their source of income.
Continue Reading
FBR Gets Proposal to Align Property Valuations with FMV
Karachi, April 23, 2024 – The Federal Board of Revenue (FBR) is reviewing a pivotal proposal from the Pakistan Business Council (PBC) aimed at enhancing property valuations to align closer with the fair market value (FMV).
Continue Reading
FBR to Update Property Valuations Based on FTO Suggestions
Karachi, February 18, 2024 – The Federal Board of Revenue (FBR) is gearing up to update immovable property valuations, aligning them with fair market prices, in response to recommendations from the Federal Tax Ombudsman (FTO).
Continue Reading
PTBA identifies ambiguity in property value declaration
Pakistan Tax Bar Association (PTBA) on Tuesday identified ambiguity in declaring of immovable property in income tax return filing. PTBA President Rana Munir Hussain in a letter to the chairman of Federal Board of Revenue (FBR) stated that the apex tax bar had received several representations from the members of different affiliated tax bars across […]
Continue Reading
FBR revises property valuation for Gwadar areas
In a strategic initiative aimed at enhancing tax collection and ensuring fair market valuation, the Federal Board of Revenue (FBR) has revised the valuation of properties in the Gwadar region. The move, outlined in the SRO 1271(I)/2022 dated August 01, 2022, represents a crucial step in aligning property valuations with current market dynamics.
Continue Reading
FBR issues new property valuation for Islamabad from August 01, 2022
The Federal Board of Revenue (FBR) has introduced new valuations for immovable properties in Islamabad, effective from August 01, 2022.
Continue Reading
FBR amends fresh property valuations for Islamabad
ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday made changes to property valuation tables for the capital city. The FBR issued SRO 428(I)/2022 dated March 15, 2022 to a make amendment in the SRO 342(I)/2022 dated March 02, 2022. Through the latest SRO the FBR withdrew the property valuation tables for DHA Phase 1 […]
Continue Reading
FBR allows 20-year old house value to open plot
ISLAMABAD: The Federal Board of Revenue (FBR) has allowed the value of immovable property constructed more than 20 years equal to the value of open plot. According to property valuation for Karachi issued through SRO 345(I)/2022, the FBR issued a fresh property valuation for the residential and open plots located in various parts of the […]
Continue Reading
FBR postpones new property valuation till February 28
ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday postponed the implementation of new and revised valuation of immovable properties till February 28, 2022. The FBR said that new and revised valuation tables of immovable properties issued on December 01, 2021 would remain in abeyance till February 28, 2022 and those valuation tables would be […]
Continue Reading