WHat are the latest updates on Advance tax and Capital Gain Tax ?
I am planning to buy an apartment and just now my lawyer informed that I have to pay advance tax because the value of property is more than 3 million. To my knowledge this property value was recently fixed at 4 million, and if the property is more than 4 million value then only advance tax is applicable
Please clarify
Dear Saif,
You do not have to pay any advance tax if the property is less than 4 Million as per FBR Value. Note: It is as per FBR Value and not DC Rates.
Jazak Allah
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