Federal Board of Revenue change the rate of withholding tax transfer of
property under section 236C & 236K for financial year 2022-23 through
Finance Act 2022. The amendment in the Income Tax Ordinance 2001 through
Finance Bill 2022.
To increase the tax collection FBR impose withholding tax on transfer of
properties in year 2014 under section 236K. After the implementation of said
section FBR increase its revenue. FBR
feel this is very soft way to collect tax from the general public without any
effort. The Revenue Officers of all The Provinces of Pakistan act as Withholding
Agent. This tax FBR increase time by time.
FBR increase withholding tax transfer of property under section 236C
& 236K for financial year 2022-23. The main two categories for 236C and
236K.
Financial year 2021-22 the rate of withholding tax for filer is @ 1%
under section 236C as well as 236K, and non-filer @ 2% under section 236C as
well as 236K.
The FBR increase these taxes for financial year 2022-23 for filer @ 2% & Non-filer @ 4% under section 236C and filer @ 2% non-filer @ 7% under section 236K.
These changes was communicated by Assistant commissioner Tehsil Sadiqabad
District Raheem Yar Khan to Revenue Offices of Tehsil Sadiqabad.
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