Notices of property tax to owners of 5 Marla houses in Rawalpindi Cantt. is being issued.

Notices of Property Tax to Owners of 5 Marla Houses in Rawalpindi Cantt.

House owners have complained that Rawalpindi Cantonment Board is issuing Property Tax Notices along with surcharge despite the waive off such tax in 2007.

When concerned office is approached for this injustice, it asked for provision of map and registration copy of house. However the copy of houses is already held with the same office.

The owners are of the view that the cantonment board may grant waive off under the rules implemented since 2007.

Tax on all big housing schemes and bungalows is ready to implement.

Excise and Tax Deptt. of Govt of Punjab is committed to apply Property tax on all big housing schemes and bungalows.

Government of Punjab has prepared its plan to impose property tax on all big housing societies, Defence Societies, cantonments, and Luxury bungalows.

Authorities of Tax and Excise Deptt. told that plan of tax implementation on all big bungalows is at final stage. It will be implemented on big and luxurious bungalows without any discretion.

 As per approved law, Luxury Tax is as below:

Rs. 500,000/-:-       Bungalow with area 2 kanals but less than 4 kanals

Rs.1,000,000/-:       Bungalow with areas 4 kanals to but less than 8 kanals

Rs.1,500,000/-:       Bungalow with areas greater than 8 kanals

If any owner has paid the tax, the new owner of that bungalow will be exempted from tax.

It was hoped initially that there would be earning of Rs. 2.5 Billions from this tax. Experts say revenue can be more than Rs. 5 Billions if Law is implemented on a big scale.