Rawalpindi: The Excise and Taxation (E&T) Department has ordered its local circle officers to conduct a fresh survey to determine property tax in line with the current market and monthly rental rates, a news source reported. To facilitate this measure, the department also issued a series of instructions to property owners.
Based on the findings of this survey, the Excise Department will determine taxes applicable on individual property units for the next five years. Source also confirm that that the survey will be conducted to determine tax rates for the fiscal years 2020-21 and 2024-25.
The survey will be carried out in all districts and tehsils that are part of the Rawalpindi Division. Sources also claim that the excise survey team has received registers and related forms to begin the survey.
In the survey form, the property owners will be required to share correct details on the monthly rental income they generate from their respective properties. In addition, they will also have to share their contact information and a copy of their CNIC. These forms have to be submitted in the excise office within 30 days of issuance.
The Excise Department has also informed the property owners that in the case of concealing information or misquoting facts, the details provided by the respective excise officer will stand valid.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
