BUDGET

Real Estate Sector Demands Extension In Construction Package & Amnesty Scheme

The real estate sector has demanded in the next budget that the construction package of the Prime Minister and the related amnesty scheme be extended till June 30, 2022.

50% reduction in all fees on property transfer. While 75% reduction in advance income tax rate, extension of construction package by one year. No new taxes should be levied, the Real Estate Consultants Association said in a budget proposal.

Addressing a press conference in Islamabad, the officials of the association said. That the duration of the construction sector scheme should extend till June 30, 2022. Maintain DC rates at current levels due to corona virus.

The association said a real estate regulatory authority should set up. Association also urged that a series of FBR notices should stop now to issue to dealers. In addition, the three-year condition for capital gains tax should abolish now.

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