Home Uncategorized Up to 75% Capital Gain Tax Exempt on Immovable Property Sale

Up to 75% Capital Gain Tax Exempt on Immovable Property Sale

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Up to 75% Capital Gain Tax Exempt on Immovable Property Sale

In the case of a real estate sold by state army staff after completing three years, the government has exempt capital gain tax of up to 75 percent.

According to BDO Audit Consultancy Firm, Part III Clause (9A) provides for a 50% capital gain exemption from the first sale of immovable goods purchased or earmarked for ex-servicepersonnel or ex-employees of the Federal and Provincial Governments as former allocates of immovable property.

The Tax Laws (Second Amendment) Ordinance, 2019 has further exempted capital gains up to 75 percent in case the property is sold after completion of three years from date of acquisition.

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