Plan Designed to Tax 5 Marla Houses (All Categories) in Punjab
Lahore: The Punjab Department of Taxation and Excise (E&T) has announced its intention to tax 5 marla homes of all types – instead of the current practice of taxing only five marla homes of class A, according to sources. .
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According to the report, the province’s E&T department has come up with a proposal to tax these homes based on rental value.
This proposal has been forwarded to the provincial government for approval and implementation in the next financial year. The ministry revealed that it has a fee schedule for all areas of the province.
Homeowners with an annual income of PKR 225,000 will have to pay 5% of the amount as property tax under the proposed plan. The final decision on this matter will have to be approved by the government.
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