I m buying a plot in bahria orchards lahore. The dealer asked me to pay rs. 49000/- as stamp duty. I wanted to know where will this money go? To some govt treasury or to bahria town society? How can i confirm that i paid the right amount to the right place?
If anyone here can clarify, i'd be grateful.
Thanks.
It should go directly to the govt. But bahria town may collect it and then forward it to the govt.
As far as I know, CVT tax is upto on purchaser and CGT tax on seller. Further there is a transfer fee. There is nothing as stamp duty in Bahria.
Bahria collect the taxes and later deposit it with treasury as per Bahria's policy.
In other property transfers, we have to deposit CVT and CGT directly in National Bank. Since plots are on the name of Bahria, so Bahria collects it and deposit it themselves.
Typical stamp duty is on Registered property transfer which we call as " Registeri "
Thanks folks!
Then it might be CVT that he has deposited. He also said that govt. Has levied some additional tax which is Rs.16k for my case.
Agree with BR. Malik sab, this stamp duty is generally paid when you get the property registered in your name, which is called 'registery"