AREA WILL NOT BE VALUED FOR ANY PROPERTY TAX BUT RENTAL VALUE WILL – Ukaaj.com | A great real estate is HERE !

AREA WILL NOT BE VALUED FOR ANY PROPERTY TAX BUT RENTAL VALUE WILL

  • 4 months ago
  • News
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Punjab Finance Minister recently declared that Property tax will now be calculated upon rental value, previously it was done according to the area. Chairing a meeting of the Ministerial Committee for Resource Mobilization 2021-22 amendments in the Punjab Urban Immovable Property Tax Act 1958 are imperative to improve local government.
Depending on the excise & taxation to evaluate the property value, arbitrators will determine the rental value. This amendment is placed in the light of the property owners evading tax by the area while their rental value increases every year.

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