Govt imposes capital value tax on farmhouses and big houses in Islamabad

The federal government has decided to impose a capital value tax on farmhouses and big houses in Islamabad, reported 24NewsHD TV channel.

According to Finance Bill 2024-25, the government has imposed capital value tax of Rs5 lakh on farmhouses comprising 2,000 to 4,000 square yards. While the government will receive Rs 10 lakh tax on farmhouses of more than 4000 square yards.

Moreover, the government will impose capital value tax of Rs 10 lakh on residential houses comprising 1,000 to 2,000 square yards. According to Finance Bill, the government will levy capital value tax of Rs15 lakh on houses of more than 2000 square yards.

Reporter: Waqas Azeem