Property & Other Assets | Payment other than Banking Channel | How much Cash Payment Allowed | FBR |

[@hasanmunir7330]

Faheem bhai, agar property 10 million ki sale ki aur 10 million hi banking channel mein receieve kiay. Aur FBR value 8 million pe advance tax pay kia as a seller. CGT payable nahin hay kiun ke holding period 8 years se bhi oper hay aur khud bhi actual amount pe property declare ki thi aur 8 saal pehlay payment bank se hi pay ki thi. Iss situation mein koi issue hay?

[@syedalikhurram8347]

Dear Faheem, i purchased a plot in 2014. Declared value is 27lac. Taxes paid for purchasing on dc value 35 lac. Paid through bank but bank account has been closed for 7 years now. Now selling for 1crore. Will i have to pay any CGT?

[@ghazibro6468]

Since you've owned the property for more than 4 years (from 2014 to 2024), it's likely that you won't need to pay Capital Gains Tax under the current rules.

[@MAK3269]

Good information Question regarding immovable property: The seller sold a plot after 2 years of ownership and made a profit of 20 lakhs. At the time of CGT payment will he be asked to provide pay-order of sale consideration received? Sir what will be the consequences for the seller if he does not receive sale price through banking channel?

[@khanjeeism]

How to Declare Expense on Purchase of Property with Cash

[@faheempracticallearning]

Purchase of property is not expenses

[@tariqshaikh4541]

سر ایک پراپرٹی اس مالیت 10 ملین ہے اور اس کی fbr ولیو 2.5 ہے کیا اسے کیش میں پرچیز کر سکتے ہیں.

[@navedlawassociates6347]

Aos Sir at the time of sale , seller k Liye b koi aisa rule ha k payment through banking channel received kry???

[@faheempracticallearning]

Yes, section 73

[@navedlawassociates6347]

Sir wo TU rule to prevent double taxation h

[@faheempracticallearning]

@@navedlawassociates6347 yes this is for sale tax 73, section. In most of the cases same rules applied for both parties.

[@hassantariq2795]

1millon limit of asset is for single transaction or in total for the year on ac of p & m

[@faheempracticallearning]

Individual assets

[@shakeelshaheen19]

A.O A I sold my 4 properties each of them 3 million rupees in one year 2016. transaction made cash payment. My questions 1. Is this banking channel transaction was also in 2016 or when it added? 2. 4 separate transactions each have 3 million but collectively 12 million is the banking channel rule apply???

[@faheempracticallearning]

For individual more then 5 million

[@haamitex2397]

Sir i have 2 questions. 1- One property actual rate 1.5M but due to wrong survey Govt rate is 3.1M all taxes treat at this payment. which value shows in wealth ? 2- Secondly when purchase some property it is normal practice that 1/4 of total payment paid in cash and agreements signed by both parties how we treat this when purchase value above 10M ....... Kindly guide

[@faheempracticallearning]

Which is actually paid.

[@faheempracticallearning]

As per rules if more thn 5 million need to pay via banking channel

[@faheempracticallearning]

For thn 5 million already people's followings that practices

[@haamitex2397]

@@faheempracticallearning Sir we have an other issue also ..... Actual Price there is about 1.5 M/Marla but fbr price per marla is 3.15 M ....... An amount of Rs. 12.4 M extra paid against tax calculation

[@faheempracticallearning]

@@haamitex2397 report actual, in wealth

[@haroonansari1235]

Kindly advise, can we draw two cpr against purchase of one property for one Taxpayer only. Actually purchaser want to show full transaction in return. He has already paid DC value challan of 236k. In other words can we generate two challan for 236k. One for DC value and other for remaining amount. All total amount was paid through two payorders.

[@faheempracticallearning]

Better to prepare, one normally land record department not accepted, as per law we can prepare, because we are paying, but practice is to prepare, one, so follow practice

[@JulianJamil-gs8ci]

Is it possible to take your money to other country if you are shifting for good on permanent residence, can we see our property and take money from pak to USA legally through bank

[@faheempracticallearning]

Yes, but difficult and need to give strong evidence

[@faisalmobin2303]

236 k charge on which value fbr value or fair market value in case sale agreement on fair market value and payment through banking channel ?

[@faheempracticallearning]

Registry value,

[@altafamirali4946]

@@faheempracticallearning The registry value is at FBR or at FMV?

[@faheempracticallearning]

@@altafamirali4946 it's is depand on buyer, mostly on FBR valuation rates

[@faisalmobin2303]

@@faheempracticallearning even in case buyer and seller agreed on FMV transaction 236 k and c charge on FBR value?

[@liaqatkhan9266]

Sir how much salary can an organization pay to its employees in the form of cash

[@faheempracticallearning]

25K, as per law, now in future may be this limit will increase, as minimum wages also increased from 25K to 32K

[@liaqatkhan9266]

Jazakallah khair

[@faheempracticallearning]

@@liaqatkhan9266 👍

[@ghulamsaber2396]

🌹

[@mrhumman9100]

Sir person pay tax on fbr rate 236K, suppose plot FBR rate was 500000 but the market price was 10000000 so what should I show in my return. The one that I pay tax on it or market price kindly answer sir

[@faheempracticallearning]

Total value paid, check lecture

[@mrhumman9100]

@@faheempracticallearning but sir what if FBR issue notice that actual amount is else and you pay less tax u/s 236K

[@mrhumman9100]

@@faheempracticallearning and sir what if gift received from father in cash. Will my father must have NTN or no need of it. What FBR can do the person that receive cash gift from father

[@faheempracticallearning]

@@mrhumman9100 tax also need to pay

[@faheempracticallearning]

@@mrhumman9100 yes,