Those who will not file tax returns today, they would have to deposit 2% with Holding Tax over selling-purchasing of plot, shop and house and 3 % Withholding Tax shall be applied over leasing of new vehicle.
According to FBR officials, unregistered people will have to pay 3% WHT over worth of new vehicle from leasing company or from banks, it must be remembered that government put the WHT for buying new vehicle over case from previous fiscal year but those who want to lease was exempted from it.
More than one lac vehicles have obtained on lease on every year in Country. The government has implemented designated rates for property by SBP instead of DC rates by making amendment in laws for payment of Income Tax over selling-purchasing property. Under new procedural determine of value of property will make approved experts evaluators by SBP.
