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Fresh Survey for Property Tax to be conducted in Rawalpindi Market

Real Estate News
04 Sep 2019
Fresh Survey for Property Tax to be conducted in Rawalpindi Market

Fresh Survey for Property Tax to be conducted in Rawalpindi Market

Rawalpindi: E&T (Excise and Taxation) Department has recently ordered the local circle officers to conduct a fresh and new survey for the determination of property tax in line with the current market and the monthly rental rates. The department has also been issued with a series of instructions to the property owners.

On July 7, 2019, the ETNCD ( Excise, Taxation, and Narcotics Control Department ) launched a survey to impose a property tax on the land that is located along the motorways as well as the highways falling in the city’s jurisdiction. The property tax is to be collected by the owners of the land that is allocated near the motorways and highways throughout the Punjab province.

As per the findings of the survey, the Excise Department will be determining the taxes that are applicable to the individual property units for the timeframe of five years. As per the sources involves, the survey will be conducted to determine the tax rates for the fiscal year 2020-21 till 2024-25.

This survey will be carried out in all the districts as well as the tehsils that are part of the Rawalpindi Division. The sources involved the claim that the excise survey team has already received the registers and related survey forms so that they can initiate the survey as soon as possible.

In the survey form, the property owners are required to share the correct details on the monthly rental income they are generating from their respective properties. Furthermore, they are also expected to share their genuine contact information along with a copy of their original CNIC. These forms will be submitted to the excise office within a timeframe of 30 days of its issuance.

Moreover, the Excise Department has also informed the owners of the property that in any case of concealing the information or misquoting the original facts, the details will be then provided by the respective excise officers will remain valid.

Also Read: FBR to Tighten Noose on Smuggled Goods from the 1 st

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