The federal government has decided to impose a capital value tax on farmhouses and large residential houses in Islamabad, Headline PK reported.
According to the Finance Bill 2024-25, a capital value tax of Rs5 lakh will be levied on farmhouses ranging from 2,000 to 4,000 square yards. Farmhouses exceeding 4,000 square yards will be taxed Rs10 lakh.
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Additionally, residential houses between 1,000 and 2,000 square yards will incur a tax of Rs10 lakh. For houses larger than 2,000 square yards, the tax will be Rs15 lakh, as stipulated by the Finance Bill.
