ISLAMABAD: Documenting real estate transactions
FBR introduces IT-5 form for immovable property sellers
* Buyers, sellers will be required to pay
* 0.5 percent WHT on sale of immovable property
By Sajid Chaudhry (Daily Times)
The Federal Board of Revenue (FBR) has made it mandatory for the sellers of immovable property including plots, flats, buildings, agricultural land, etc, to ensure submission of income tax (IT) -5 return form to provincial registration authorities along with the registration documents upon sale or transfer of the immovable property.
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