Federal Board of Revenue change the rate of withholding tax transfer of
property under section 236C & 236K for financial year 2024-25 through
Finance Act 2024. The amendment in the Income Tax Ordinance 2001 through
Finance Bill 2024.
To increase the tax collection FBR impose withholding tax on transfer of
properties in year 2024 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 on transfer of property under section 236C
& 236K for financial year 2024-25 The main two categories for 236C and
236K.
FBR introduce three categories.
·
Filler
·
Late Filler
·
Non Filler
The rate of tax is different in all the three categories.
Under section 236C: This tax is collect from seller:
·
Filler @ 3%
·
Late Filler @ 6%
·
Non Filler @ 10%
Under section 236K: This tax is collect from purchaser:
·
Filler @ 3%
·
Late Filler @ 6%
·
Non Filler @ 12%
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