Government has announced an exemption to families of martyrs for capital gain tax while Ishaq Dar said that under the new law 10 per cent capital gain tax will be imposed if holding period is up to 1 year , 7.5 per cent if holding period is up to 2 year and five per cent If holding period is up to3 year.
Talking to media along with real estate agents finance minister Ishaq Dar said that while exemption limit from withholding tax has been increased from rupees three million to four millions.
The minister said that ordinance related to property will be imposed from today while capital gain tax will not be applicable to martyrs families.
According to new laws the capital tax gain will be charge with three different categories as per year in three years time while after three years seller of the property will be exempted from tax after three years.
Properties have been divided into five categories of residential and commercial basis.
