{"id":3361,"date":"2022-09-13T18:36:56","date_gmt":"2022-09-13T13:36:56","guid":{"rendered":"https:\/\/propakistani.pk\/proproperty\/?p=3361"},"modified":"2022-09-13T18:36:56","modified_gmt":"2022-09-13T13:36:56","slug":"military-land-and-cantonments-introduces-new-policy-for-house-tax","status":"publish","type":"post","link":"https:\/\/propakistani.pk\/proproperty\/military-land-and-cantonments-introduces-new-policy-for-house-tax\/","title":{"rendered":"Military Land and Cantonments Introduces New Policy for &#8216;House Tax&#8217;"},"content":{"rendered":"<p>RAWALPINDI: A new policy has been issued for Cantonment Boards including Rawalpindi and across the country to collect\u00a0tax from self-occupied residential properties.<\/p>\n<p>The new guidelines show that a 15% rebate on annual rental value will now be applicable based on a property&#8217;s construction period.<\/p>\n<p>According to the notification of the ML&amp;C Department, house tax collection accounts for 35% of the Cantonment Board&#8217;s total tax collection, but a study conducted by the headquarters ML&amp;C under Sections 64A and 64B of the Cantonments Act, 1924, discovered that 15% tax on annual rental value was not being collected equally from self-occupied properties.<\/p>\n<p>As a result, it stated, that tax collection from self-occupied residential properties will now be carried out in accordance with the new tax assessment guidelines.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/cantonment-boards-asked-to-improve-residential-tax-collection-mechanism\/\" target=\"_blank\" rel=\"dofollow\" class=\"u9449808a174d01c6d00dfd1ab661305c\"><style> .u9449808a174d01c6d00dfd1ab661305c { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u9449808a174d01c6d00dfd1ab661305c:active, .u9449808a174d01c6d00dfd1ab661305c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u9449808a174d01c6d00dfd1ab661305c { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u9449808a174d01c6d00dfd1ab661305c .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u9449808a174d01c6d00dfd1ab661305c .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u9449808a174d01c6d00dfd1ab661305c:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">Cantonment Boards Asked to Improve Residential Tax Collection Mechanism<\/span><\/div><\/a><\/div>\n<p>As per details, if the property was built in less than five years, there will be no 15% tax rebate on the annual rental value.<\/p>\n<p>The tax credit for houses built within the last ten years will be 5%. The tax rebate will be 7.50% for houses built between 10 and 20 years ago and 10% for houses built between 20 and 30 years ago, according to the statement.<\/p>\n<p>Furthermore, the rebate will be given if the construction period was longer than 30 years based on the land value while there will be no property tax exemption\/rebate for flats and apartments built more than 50 years ago.<\/p>\n<p>According to critics, self-occupiers\/landlords will be treated as tenants under the new tax regime and they will have to pay the house tax equivalent to the house rent.<\/p>\n<p>The ML&amp;C spokesman confirmed that all cantonments have received formal notification of their property tax assessment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RAWALPINDI: A new policy has been issued for Cantonment Boards including Rawalpindi and across the country to collect\u00a0tax from self-occupied residential properties. The new guidelines show that a 15% rebate on annual rental value will now be applicable based on a property&#8217;s construction period. According to the notification of the ML&amp;C Department, house tax collection accounts for 35% of the Cantonment Board&#8217;s total tax collection, but a study conducted by\u2026<\/p>\n","protected":false},"author":3,"featured_media":3362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"img_urls":{"thumbnail":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2022\/09\/Untitled-design-52.png",1000,560,false],"medium":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2022\/09\/Untitled-design-52.png",1000,560,false],"full":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2022\/09\/Untitled-design-52.png",1000,560,false]},"author_name":"Firas Qureshi","categories_name":["News"],"title_text":"Military Land and Cantonments Introduces New Policy for \u2018House Tax\u2019","related_stories":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts?filter&per_page=4&categories=5&exclude=3361","_links":{"self":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/3361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/comments?post=3361"}],"version-history":[{"count":0,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/3361\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media\/3362"}],"wp:attachment":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media?parent=3361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/categories?post=3361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/tags?post=3361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}