The FBR has published comprehensive guidelines on its website for taxpayers to make immovable property tax payments as per section 7E of the Income Tax Ordinance 2001. These guidelines cater to both registered and unregistered users, offering step-by-step instructions. Users must input specific property details such as location, ownership authority, construction status, and covered area.
The paragraph discusses the process for declaring property value and tax calculation. It mentions that the Lahore High Court's judgment has led to Section 7E no longer applying in its jurisdiction, regardless of filer status. The FBR has also removed the need for exemption certificates for certain taxpayer categories, as outlined in Circular No. 3 of 2023. It clarifies that these rules don't apply within the Lahore High Court's jurisdiction unless the court's decision changes. Non-resident individuals, including non-resident Pakistanis, are exempt from taxes under Section 7E. Additionally, the requirement for exemption certificates from Inland Revenue Commissioners has been relaxed, as detailed in the circular.
The paragraph discusses the validity of an explanatory circular issued by the FBR for property sales and transfers until an automated system is developed. It states that the conditions from Circular No. 1 of 2023-24 regarding obtaining a certificate from the Commissioner do not apply in certain situations. However, the transferring authority must maintain a record of seller/transferor data and relevant documents for properties within these situations, which will be shared with the Chief Commissioner IR.
It also clarifies that Section 7E of the Ordinance doesn't apply to properties owned by specific entities like local authorities, development authorities, builders, and developers involved in land development and construction, provided they are registered with the Directorate General of Designated Non-Financial Business and Professions (DNFBP). Additionally, Section 7E provisions do not apply to properties acquired in the first year if tax under section 236K has been paid by the purchaser. In such cases, the seller/transferor must furnish a Computerized Payment Receipt (CPR) with specific details to the transferring authority.
Section 7E of the Income Tax Ordinance 2001 does not apply to immovable properties allocated to certain categories of individuals, including martyrs and their dependents, Pakistan Armed Forces personnel, government employees who died in service, war-wounded individuals in government service, ex-servicemen, and current government personnel. For these individuals, the requirements outlined in Circular No. 1 of 2023 for providing evidence to the transferring authority are not applicable.
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