7E Property Tax | Which Property need to Report in Capital Assets | Installment Property | FBR |

[@haiderraza511]

Sir ur best teache of Pakistan aap se buhat kuch seekha aur seekhne ko milta he Allah bless you always ❤

[@faheempracticallearning]

👍

[@amazingaviculture6948]

Very good explanation of 7E.

[@faheempracticallearning]

👍

[@aijazahmed2915]

youvare splinded job well information.

[@faheempracticallearning]

👍

[@m.frealestateconstructionb378]

اسلام وعلیکم ورحمتہ اللہ وبرکاتہ Sir property orr construction sa related Law book muee btyee.. Konsi leni chaiyee... JazakAllah

[@SaeedAhmad-fo7iq]

Nice and informative

[@faheempracticallearning]

👍

[@mmasad5355]

Thanks for update. Please guide that should we report our property in 7E Kif even we fall elbow 25 million ?

[@faheempracticallearning]

@@mmasad5355 yes all properties need to report

[@arshadjalil2267]

Faheem sb aek sawal hae joint property kee babat. Suppose aek ghar jis kee value 35 million hae aur 4 bhai iss ke mushtarika maalik haen. Kya har bhai apni 7e return mein 25% hissa show karay ga? Iss baat kee wazahat kar dein to meherbani ho gee. Bohat shukriya

[@rizwanchandiwala]

Informative video

[@faheempracticallearning]

👍

[@NeyoCoetez]

You're doing a fantastic job! I have a quick question: My OKX wallet holds some USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What's the best way to send them to Binance?

[@faheempracticallearning]

👍

[@Blogs425]

Faheem bhai ghr jiski ownership (late )mom k name pr ho or abbi inheritance transfered ya regusterd na ho to usko 7E pr report krna pryga ya ni ?

[@faheempracticallearning]

No, need because ownership not changed

[@DawnDolcemascolo]

Thanks for the breakdown! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What's the best way to send them to Binance?

[@aliiqbal6310]

sir if declared value is more than fair market value then what will happen? I constructed plaza in DHA lahore. The value I declared was as per market but fair market value as per SRO of 2022 is still low. What should I do?

[@asifkamran2161]

Inherited property is also required to be reported in 7E Property Tax at Fair Market value ?

[@faheempracticallearning]

Yes, same as reported in wealth

[@naumanayub1348]

Will inherited property reported at nil value in capital assets and wealth statement.

[@MUHAMMADASHFAQ-yz8gu]

AOA Sir, just want to confirm one thing will 7E apply on agricultural land or do we have to declare the agricultural property in capital assets?

[@sadiamukhtar5695]

Please guide where should we report property purchased on instalments and file purchased. Please suggest best practice. I’ve seen some people reporting in residential property line and others in others assets.

[@faheempracticallearning]

Yes, ok

[@sadiamukhtar5695]

@@faheempracticallearning kindly respond. Thanks

[@hunainalikhan9253]

@@faheempracticallearning please respond

[@TamjeedSohail]

Salaam Sir. How to calculate fair market value of constructed property like a house or shop for rental income? Do I calculate based on Plot area or covered area? Kindly advise. Thank you.

[@theshamsi]

Very informative, Thanks

[@faheempracticallearning]

👍

[@asifali-bx9he]

Sir if property rates is Rs. 40m other than persenal house exempted than 7E tax will be xharged on which rate on 40m or 1.5m?

[@Alimubeen1324]

Sir maine Return revised krdia ha 2024 ka Capital Asset report krny k liey Cost - Fair Market value - already declare in wealth statement same rakhi ha amount, 7E k certificate file hojaeyga jab property sale kareingy?

[@saadsiddiqui6891]

How to handle inheritance? For example, agri land transferred to tax payer’s name in inheritance, it’s value is more than 25mn but not in use. Is 7E tax still applicable?

[@faheempracticallearning]

Yes taxable

[@saadsiddiqui6891]

@@faheempracticallearning thanks for quick response. Your videos are very informative. Is there any exemption under 7E for Agri land in personal use given that there is no Agri income (through sale of produce)?

[@faheempracticallearning]

@@saadsiddiqui6891 currently this 7E tax payment matter is pending before SC, so i think no need to pay tax now, wait for court decision.

[@saadsiddiqui6891]

@@faheempracticallearning thank you

[@saadsiddiqui6891]

@@faheempracticallearning thank you

[@Mr180Shorts]

In case of open plot, Y we need to treat it as capital assets when we don't own it?

[@attarehman7276]

Sir cost value declare kryn ya market value

[@faheempracticallearning]

in capital asset form both column cost value

[@attarehman7276]

@@faheempracticallearning Thanks

[@Haq628]

What about agricultural land? Should we report it too in 7e?

[@faheempracticallearning]

@@Haq628 yes

[@accountingmadeeasy8135]

Sir mere aik client hai Jis ki abhi bahria town mein property hai aur kahin aur bhi plots hein Jo us ke naam per transfer nahi hue hein tu aap ki is video ke mutabiq us ko report kardon ya nahi. Kindly suggest.

[@ziacompany8023]

Would we report 7E in the tax return After judgement of seven different courts?

[@faheempracticallearning]

Yes need to report

[@naeemsaddique3700]

Sir agar Service Benefit plot mila ho retirement pe, to usko return me kese report karen ge... Please guide

[@ayubpatel6421]

Please guide how I can upload any relevant document in income tax return form?

[@asifa.ghaffar8942]

What about Inherited property which is reported at Nil value in the wealth statement for the last 25 years..

[@faheempracticallearning]

Yes still need to report

[@ammarali99]

Great ❤❤❤❤❤

[@faheempracticallearning]

👍

[@TayyabAli-u6e1x]

JazakAllah sir

[@faheempracticallearning]

👍

[@jnokia2303]

FMV kay column mey cost value enter kar kay value 25 M sey kam ho tou exempted mey konsi option select karein ,wahan less than 25M ki option nahi hey

[@hrbuddy1029]

me ne 3.5 Marla ek plot liya hai jis ka possession letter mil gya hai, me ne liya sasta hai ku k family memeber ko alot hua tha ku k wo society me kam krta hai, me ne 13lac ka liya jab k us ki market value 35lac hai. ab me kia us ko declare kru ya nahi?

[@NasirAli-ue7gd]

What about inherited property treatment if bought in 1979

[@faheempracticallearning]

Same need to report

[@talhaqazi7339]

Pls explain how to calculate FV as per FBR. I've seen the document which shows area wise rate per square yd, but thr r few points regarding deduction as well which r difficult to understand. Thanks jazaak Allah

[@hunainalikhan9253]

Assalamu Alaykum! sir mene ak shop kharidi we hai jo k 2.3 million ki hai kia hamain ussy file krna hoga abhi hm uss ki installment de rahe hain aur agr declare krna hoga to kahan declare karainge uss property ko jo abhi installment me hai aur abhi ownership transfer nai huwi?? kindly respond krdain JazakAllah

[@mali14881]

builder 7E kese bahre ga ya kaya show kare ga

[@MuhammadNaveedIqbal-v8g]

How to correct an error after filing e.g house entered, but against "Is property constructed" reply entered as "No"

[@faheempracticallearning]

You can revise

[@TravelwithShahidBaloch]

Aoa. Sir info chaheya . Hamara 10 marlay Ka makan ha mushtarka. Bhai 2 Marla aur sis 1 marala ata ha. Hm SB nay aik Bhai KO power of attorney dia WA. Pochna ya tha k 7e Ka form just usi Bhai Ka niklay ga jis KO power of attorney dia WA ya SB Ka?

[@zahidferoze9274]

Sir Kindly guide about exemption of income tax on medical allowance for salary persons. Thanks

[@amanalam7866]

Sir ager ek house jis me hum reh rahy he or us ko wealth statement me hum ny actual market rate par report kia hwa he jo fbr ki fmv say bht zyada bnta he ,,to hum 7e me usko usi actual cost par report kary dono tab me?

[@atiqrahmanlodhi4709]

asi property jis co just stamp paper pa li ho . payment ker di ho . but registory ya intaqal na ho un co b likhna hota hy???????????

[@faheempracticallearning]

Yes, also need to report, because at the time of registry, land record department, asked for 7E certificate, and if no reporting no certificate

[@suhaibfrontier4905]

Mjhe ghr tranfer huwa tha heritage m ..total 5 marla ha .2.5 marla mera hissa aur 2.5 marla bhai ka. Aur esi house m hm rehty hain...an ye kis jaga add ho ga ....

[@nadeemghulamnabi6071]

Faheem bhi. If we purchased property property in 2022-23 and reported in 7e form in same return, whether we should report said property in 7e of current return

[@hrbuddy1029]

Bro, IRIS pr FBR maloomat section me meri salary 16Lac show ho rhi hai but meri actual salary 18Lac hai Masla ye hai k meri company ne mera tax kam kaata tha, ab jab me 18 Lac salary dal rha hu to 33 Hazaar payable tax aa rha hai. Kia me apni salary 16Lac tak show kr skta hu ?? Us tarah mujhe tax 5k kareeb pay krna par rha hai. Plz guide kre, Plus me ne ye b suna hai k salary wale accounts ka audit b ni hota to kia ye kiya ka skta hai? Ya koi aur tareeqa hai to guide kr de

[@molecularpsychiatry-wp3yv]

Usually its recommended to go as your documents say. But in your case. If the tax is already cut. Put the correct values in the system. and pay accordingly. Maloomat system is sometimes lagging behind.

[@TayyabAli-u6e1x]

Property ko 7 E form ky sath wealth statement mai bhi report krna hai?

[@faheempracticallearning]

yes

[@TayyabAli-u6e1x]

@faheempracticallearning JazakAllah

[@faheempracticallearning]

@TayyabAli-u6e1x 👍

[@aftabchohan6341]

jo property hum sale kar raha ha. or jab hum apni sale deed banay ga to us sale deed me hum us he property ka certificate lagay ga jo sale kar raha ha ?

[@faheempracticallearning]

@@aftabchohan6341 yes

[@TanveerIqbal-e2y]

Sir ma ne 2019 ma plot leya tha us ki deal 6 lac ma hoi thi total payment ma ne 6 lac kar diya ha magar name ni hoi ab ma 2023.24 ma tax payer Hun as a salary person ab ma ne filer hona ha us ka mujy kia Karna ho ga

[@ABDULMANAN-qw1ry]

Sir 7e main entry karaye to ab wo personal assert / liabilty main show nahe hoti pher waha par bi dobra add karni parti ha kya yeh theek ha ya hum koi mistake kar rahye hain

[@usamakhalid6078]

Meny 7e k liye property k dobara request add ki wahn property likh k uski value likh k uska 7e certificate download kr lia tha or us k baad wo sale kr di thi ab wo property ko khetm kesay krna ha

[@faheempracticallearning]

If already sold, just delete from wealth, auto delete from capital assets

[@jamilhfl]

I have one plot value Rs 12lac 100 % paid. One another polt is on instalment value Rs 15 lac and I have paid up to 9lac out of 15lac. How I can report in 7E

[@faheempracticallearning]

@@jamilhfl pls watch previous lectures, I have already explained

[@FaQu-u3v]

Blood relative to agur property gift Karen jis may sale purchase nahi hai tou kia usmay bhi 7E ka certificate dekhna hoga kia sir? thanks

[@faheempracticallearning]

Yes required

[@FaQu-u3v]

@@faheempracticallearning ok thanks sir 🙂👍

[@faheempracticallearning]

@@FaQu-u3v 👍

[@asimsiddique-l8w]

Is 7E applies on agricultural property? Pleae create video on 7E excemptions?

[@faheempracticallearning]

Already have, pls watch previous lectures

[@asimsiddique-l8w]

Thanks 👍

[@naveedsaleem2425]

Can we show the installment file in wealth statements under "other assets" until full payment and after full payment and transfer, show it in property section of wealth statement and report the same in Capital asset section?

[@raoarfanrao5197]

Plz reply on above question bcoz my question is also same

[@hussnainhaider7327]

Thank you sir... ❤❤❤

[@faheempracticallearning]

💯

[@TheUmaiz]

Thanks, Now clear all confusion... Sir, Apko Whatsapp kia ha Salary tax sheet 24-25 k lia, Please reply Could you also guide how to calculate tax, in case of tax on tax against salary (the employer pays full tax of the employee)?

[@faheempracticallearning]

ok, share again

[@faheempracticallearning]

👍

[@FaizanKhan-ct2tc]

Sir installment mene plot ki kar di 2 Million, abi pori payment nhi hoy Lekin mene jo 2 Million pay kar diya he to kya me apny 2024 k return me wealth me plot show karu ga? Or waha pe likhu ga k mene 2 million ki payment krdi agsint plot?

[@faheempracticallearning]

Yes need to report

[@faisalhameed2198]

ksi bhi propery ka possession nahen mila aap ko wo bhi shamil naheen ho gi. bohat se plots pe court pe cases hai builder k log loss main tranfer fines bech rahay hain un tax kesay lagay ga trnsfer plot agar profit main sale ho raha hai tab profit pe gain tax lagna chahey

[@faheempracticallearning]

All need to report

[@advsikandersiddique1]

File Ka to possession he ni ..to declare q kry ?

[@faheempracticallearning]

at the time of sale certificate need, otherwise 1% extra tax payment

[@zafarafzal5547]

How i will acess tht my property value 20 million or 22 million

[@muhammadakramkhan7133]

If my plot is the name of daughter or son and they do not file returns than what exemption would be mentioned Second who will be consideted owner of plot while in actual father is the owner as he invested. Appreciate if respond pls.

[@taimurkhan7789]

i have a question, if let suppose in future the court verdict comes in favor of FV then what will be the treatment of FV gain that will arise while recording the properties on FV in capital asset which was previously recorded on cost. whether the cost will be reflected in the wealth statement or FV. and in case if on FV than where the gain will be adjusted, directly in reconciliation or in return?

[@faheempracticallearning]

If against tax payer, thn department will issue notice for payment

[@taimurkhan7789]

@@faheempracticallearning whether if the properties for which the FV will also be added in the capital asset tab will be reflected on FV or on cost in wealth statement? And if on FV? Where the difference of FV and cost will be adjusted? Either directly in Reconciliation or some where else in return? Thanks

[@aamirqureshi1045]

5million plot 5 marla 7e me aad karana he k ni

[@faheempracticallearning]

Yes

[@shanaslam3770]

Do you provide tax filling service? If yes, where to contact you?

[@faheempracticallearning]

wa.me/message/5BNUTBJFAPHUN1

[@faheempracticallearning]

click on this link for our paid services

[@amanalam7866]

Propert sale krty wskt jo 7e tax 1 % dety he ,us tax ko iris me kaha report kary gy

[@faheempracticallearning]

Rent, rates and taxes

[@MuhammadRiaz-oz5ls]

If agriculture property value 7 karor but inherited in return amount zero not report capital asset what result please guide

[@faheempracticallearning]

we need to report, you can make it exempt, as one capital assets

[@MuhammadRiaz-oz5ls]

@@faheempracticallearning revised kr don

[@MuhammadAyan-wu2qu]

​@@faheempracticallearningif combined 7 crore property is on a different places?

[@faheempracticallearning]

@@MuhammadAyan-wu2qu still need to file

[@malikfahadsaeed3392]

​@faheempracticallearning Please guide if inhertited property actual value 8 crore.but can we declared property value less than 25..

Sir 7E ko form lazmi fill karna hai kia? Even properties less than 25 Million?

[@faheempracticallearning]

Yes

[@saleemiqbal8694]

Why?​@@faheempracticallearning

[@faheempracticallearning]

@@saleemiqbal8694 watch lecture already explained the reason/ logic

[@jnokia2303]

If cost value more than 25M what option to select if we select exemted?

[@faheempracticallearning]

Thn just select property not excluded

[@jnokia2303]

@@faheempracticallearning I mean reason of exemption ,where we write( property not excluded)?

[@faheempracticallearning]

@@jnokia2303 just select that

[@jnokia2303]

@@faheempracticallearning you mean option 1 (exempted/stay granted by court)?

[@khalidmehmood9037]

What about property held on others name?

[@faheempracticallearning]

Yes same

[@MuhammadAsif-hl9rk]

ایک شاپ جو کے میرے نام پر پاور ہے کیا اسے بھی اپنے ریٹرن میں شو کرنا پڑے گا ؟

[@ABDULMANAN-qw1ry]

Sir installment abhi 70% pay hoi hain to us ko keasy show karaye 7e main ap isay reltead bi viedio bna daye

[@faheempracticallearning]

Yes sure

[@ABDULMANAN-qw1ry]

Sir agr market fair value wala area list m ho hi nahe then 7e main kya karaye

[@ABDULMANAN-qw1ry]

Sir please reply

[@MuhammadAli-f9f]

When adding property in "Personal Assets" what value needs to be put in the amount column, FMV or cost/declared value?

[@muhammadabid8172]

on which price you have bought, in case of inheritance it will be 0.

[@MuhammadAli-f9f]

​@@muhammadabid8172 1- Inherit Property: For inherit property I need to put "Cost Value" as 0 and "Fair Market Value" given by FBR in "Capital Assets" section. What value need to put in Amount column of "Wealth Statement" against same property? 2- Purchased Property: Suppose I purchased a property at 5 Lac Then I need to put "Cost Value" as 5 Lac and "Fair Market Value" given by FBR in "Capital Assets" section. What value need to put in Amount column of "Wealth Statement" against same property? Please guide accordingly.

[@muhammadabid8172]

@@MuhammadAli-f9f cost value will be put in a wealth statement. personal assets statement does not have nothing to do wid fair market value, FMV is only used for taxation in 7E.

[@MuhammadAli-f9f]

@@muhammadabid8172 JazakAllah sir, so it mean I need to put 0 in Capital assets and Wealth Statement for inherited property? Right

[@muhammadabid8172]

@@MuhammadAli-f9f yes exactly.

[@mianabid3460]

mere Naam pe aik plot Mukhtar e Aam hai. Usko main apni return mein show kr sakta Hun?

[@faisalhameed2198]

jo property rent pe hai aur aap rent pe tax de rahay hai tou wo property bhi 7 E main shamil naheen ho gi

[@faheempracticallearning]

Yes already explained in lecture, pls watch

Right 👍😊

[@faheempracticallearning]

👍

[@danishqureshi1684]

AOA Sir agar koi property co ownership pa hay (50% share) to hum na us ki return main value kya dikhani hay?

[@faheempracticallearning]

W.salam need to report, with relevant share

[@danishqureshi1684]

@@faheempracticallearning just to clerification , if a property's Market value in total is 1,000,000 then we will show 500,000

[@faheempracticallearning]

@danishqureshi1684 this property already reported in wealth?

[@danishqureshi1684]

@@faheempracticallearning yes

[@danishqureshi1684]

@@faheempracticallearning in both co owners wealth statement

[@anwaralibana6786]

اسلام علیکم ، گوادر نیوٹاون میں ہم نے بکنگ کرایا 15000 پندرہ ہزار میں۔ ہمیں فائیل اور پلاٹ نمبر بھی مل گیا ۔ لیکن پوزیشن نہیں ملا چونکہ دس لاکھ ڈویلپمنٹ چارجز دینے ہیں ، اور اس پلاٹ کی FBR ویلیو 45 لاکھ ہے۔ تو کیا اگر ہماری پراپرٹی ڈھائی کروڑ سے زیادہ ہے کیا ہمیں اس پلاٹ کا ٹ کا FBR ٹیکس دینا پڑیگا ،،، جبکہ ہمیں ابھی تک پلاٹ کا پوزیشن نہیں ملا چونکہ ڈویلپمنٹ کے 10 لاکھ ادا کرنے ہیں۔

[@raoarfanrao5197]

Excellent question My question is also same Plz reply or comment on above

[@faisalhameed2198]

jis gher main aap reh rahay hain aap k naam hai property tax de rahay hain wo bhi 7 E main shmil naheen ho gi

[@faheempracticallearning]

Yes tax not need to pay, but in capital asset we need to report all properties

[@smilekitchenofficial]

Exempt ka tu column hi nahin...zara video main dikhain k apkis exempt kay column ki bat ker rahay hain

[@faheempracticallearning]

You need to select exempt option, 😄

[@faheempracticallearning]

Not column

[@smilekitchenofficial]

@@faheempracticallearning sir column or option whatever...there isn't anything like this on iris only one capital asset is exempted

[@faheempracticallearning]

@@smilekitchenofficial pls watch complete lecture, don't forward, also check previous lectures, we have certain exemption

[@jnokia2303]

@@faheempracticallearning you mean option(exempted/stay granted by court),right?

[@JavedIqbal-zr8ot]

سر میری بیوی کے نام 5 مرلہ کےپلاٹس کی دو فائلیں ہیں جو 2008 اور 2010 میں اقساط پر لی تھیں اس وقت ان دونوں کی مالیت تقریباً 15 لاکھ تھی ابھی تک ان کی possession نہیں ملی اور نہ ہی ان کی کوئی خاص ویلیو بڑھی ہے. سر آپ سے پوچھنا یہ تھا کہ میں ٹیکس ریٹرنز کسی اور سے بھرواتا تھا جس میں اس وقت میرا تجربہ نہ ہونے کی وجہ سے ان فائلوں کی ابھی تک انٹری نہیں ہوئی میرا سوال ہے کہ اب میں انہیں کیسے ریٹرنز میں شو کروں.

[@Lknewslive]

Aap is baar inko show kara dain aur Baracat main installment likh dain.

[@ArhijaziB]

New Value 55Million hy 25 nahi hy

[@faheempracticallearning]

25m

[@faheempracticallearning]

Year 2024

[@MuhammadRafiChaudhry-ic9yb]

I have 3 questions 1-If an empty plot valuing more than the house, can the exemption be taken on plot? 2- what value of the plot either actual purchase price or fmv to be entered? 3- If balance of property is more than 2.5 million, is the tax to be calculated on the amount which is above 2.5 million or the whole amount of the balance property?

[@faheempracticallearning]

1-Yes 2-watch previous lecture, I have already explained this logic 3-25M not 2.5M Yes

[@MuhammadRafiChaudhry-ic9yb]

@@faheempracticallearning Please clarify that after taking exemption of one property will the tax calculation be based on all of balance property OR 25 million to deducted and than calculating on the balance?

[@MuhammadRafiChaudhry-ic9yb]

Please elaborate answer # 3

[@faheempracticallearning]

@@MuhammadRafiChaudhry-ic9yb 3rd all amount

[@faisalhameed2198]

instalment pori naheen hoi abhi na possession mila wo 7E main shmil naheen ho sakta

[@faheempracticallearning]

Yes, ok if your don't have any intention to sale

[@anwaralibana6786]

1000گز کا پلاٹ

[@attarehman7276]

Sir.non residence ki property wealth me to.show krty.hn.mgr 7e unka.ata he nai kl.ko.wo.property sale krty.hn.agr to