The management has announced Capital Smart City new tax policy. It is the latest news for people who are part of this smart housing society in Pakistan. The developers are focused to bring new dimensions to the world by offering the best facilities.
There is a magnificent approach to delivering exceptional standard infrastructure to bring comfort to the customers. The exerpeicned management of this residential project always comes forward to inform the customers about the latest tax policy for Capital Smart City.
The management has decided to bring compliance to the society members by informing them about the implementation of new taxes in Capital Smart City. Therefore, it is a good way to empower customers with the best development strategies in this era of inflation.
Why is there a new tax implementation in Capital Smart City?
There is a government-based institute that introduces the different types of taxes to accelerate economic growth in the country. The Federal Board of Revenue is a prominent government department that collects taxes from the people to maintain stability in the country.
FBR has come forward to implement a new tax policy for housing societies across Pakistan. Therefore, it is a usual tax that will be collected from every real estate project in Pakistan. This department is responsible for collecting taxes from the different housing societies in Pakistan.
The management of this residential society has also imposed new taxes for Capital Smart City. Therefore, management has started to collect the taxes from every member and will forward them to the FBR. It is a significant way of facilitating the customers without involving them in the complex procedure of depositing the tax to the Federal Board of Revenue.
The purpose of depositing the tax on the behalf of customers is to facilitate them without interrupting them. The good news is that customers are also very much satisfied with the available services in this society. Every customer enjoys a number of services after booking plots in this society because management has a smooth procedure for everything.
The management has made an announcement for taxes collection in the following plot rates:
- The filers and non-resident members have to pay a 2% tax at the time of buying property and installment plan. Moreover, they have to pay a 2% tax at the time of selling the property.
- The non-filers members have to pay a 7% tax on time of purchasing property and installment payment. Moreover, there is also a 4% tax for non-filers customers at the time of selling their property.
How will Capital Smart City impose a new tax policy?
This new tax policy will be applied to the different plot categories according to the instructions of FBR without depending on the booking payment of society. The management has the plan to align the tax amount with the upcoming payment. It is important to know for members that tax is applicable to every plot. However, this tax is adjusted according to the sizes of plots in this housing project.
The total amount of tax for 5 marla plots is 16,700 rupees. The members of 10 marla plots have to pay 33,400 rupees as an amount of tax. There is a tax amount of 66,800 for members of 1 Kanal plot.
What is the latest update about Capital Smart City New Tax Policy?
It is crucial for the members’ knowledge that the tax amounts can be changed without prior notice to them. The management has a right to modify the tax percentage for non-filers and filers according to the value of plots in FBR.
The tax filer members of society have a chance to submit this amount at the time of submitting annual tax income. Moreover, non-filers can also become tax filers to avail the various benefits.
Final Words
Makaan Solutions is focused to facilitate the customers by letting them about the Capital Smart City new tax policy. Therefore, they can easily pay their taxes without facing any challenges. Moreover, you can also check out the latest updates about Lahore Smart City.
Capital Smart City New Tax Policy
If you want to know about Capital Smart City New Tax Policy Contact Makaan Solutions. Our Sales Executive Officer will provide you with all the latest information. Starting from consultation to choosing the property, and from booking to owning your dream property. For further details, please do not hesitate to contact us with the below-given information:
