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2016

Real Estate market insists on tax levy at provincial rates

LAHORE: The realty sector of Punjab has asked Federal Finance Minister Ishaq Dar to levy taxes on property rates set by the province instead of evaluations made by the Federal Board of Revenue (FBR) as new assessments have increased the cost of property transactions by up to 400%.

“The realty sector is in chaos since the announcement of new taxes and revised property valuations,” said Mian Talat, former president of the Defence Housing Authority Estate Agents Association, Lahore.

The new taxes imposed by the federal government to boost its revenue stream had proved counter-productive for the national exchequer as fewer transactions in the current fiscal year led to a fall in the federal and provincial tax collections, he added.Read More »Real Estate market insists on tax levy at provincial rates

Google’s DUO app for video calling

AP

SAN FRANCISCO: Knock, knock, Google’s video chatting app has arrived.

The app, dubbed Duo, represents Google’s response to other popular video calling options, including Apple’s FaceTime, Microsoft’s Skype and Facebook’s Messenger app.

Duo isn’t much different from the other video chatting services, except that it gives a glimpse at who is making the call, helping the recipient decide whether to answer. Google calls this feature, “Knock, knock.“

The new app, announced in May, is being released Tuesday as a free service for phones running on Google’s Android operating system as well as Apple’s iPhones.Read More »Google’s DUO app for video calling

جشن آزادی مبارک

Happy independence day to all Pakistanis but let us not forget our martyrs who lost their lives to protect our independence.

QUETTA TERRORISM

ALI SUKHANVER

Ali display picThe recent terrorist attack in Quetta Hospital took lives of more than hundred innocent citizens and left so many seriously injured. The terrorists might be taking this attack as a successful episode but in the long run this brutality is going to get the people of Balochistan more united against every type of terrorism. The political leadership of Balochistan has openly said that this was an activity supervised and directed by the R&AW and the security forces have started a combing operation against the terrorists and their facilitators. Things would be soon in lime-light and the characters involved in this brutality shall be soon in grip of law but the actual thing is to search for the reasons behind such activities. Most of the analysts are of the opinion that since the beginning of 2016 or in other words, after seeing the CPEC project proceeding rapidly to its completion, the hostile intelligence agencies have become more active in Pakistan regarding terrorist activities. During the last seven months, the law-enforcement agencies of Pakistan arrested many agents of hostile intelligence agencies including an Indian spy Kul Bashan Yadav in Balochistan. Read More »QUETTA TERRORISM

Property transfer cost in Pakistan increases up to 200pc

The new property evaluation method based on actual market rate will increase the cost of properties transfer by at least 100 to 200 percent.

The property dealers said the business of property sale and purchase has nosedived since the announcement of this new system and imposition of fresh taxes on real estate sector as there is more than 80 to 200 percent difference between the actual property rates and DC rates.

“Now the buyer has to pay almost Rs300,000 for registration of a plot of five marla in a lower middle class locality in Lahore suburbs against earlier rates of Rs150,000 under DC rates,” Nasir, a property agent, said.Read More »Property transfer cost in Pakistan increases up to 200pc

FBR empowered to carry out property price evaluation

Pakistan government on Monday implemented new rates of taxes, through a presidential ordinance with immediate effect, which will apply to new valuation tables for the purpose of taxation of property in major cities.

The ordinance empowers the Fed­eral Board of Revenue (FBR) to determine the fair market value of properties of areas across the country. Ear­lier, this was a job for State Bank of Pakistan.

Similarly, it was also clarified that for areas where no valuation tables have yet been notified, the district officer revenue or provincial or any other authority authorized in this behalf for the purpose of stamp duty will apply for the collection of taxes.

The new valuation tables will only be used for the purpose of calculating Capital Gains Tax (CGT), withholding taxes and for the purposes of Section 111 of the Income Tax Ordinance 2001.Read More »FBR empowered to carry out property price evaluation

THE CIVIL WAR IN INDIAN HELD KASHMIR

ALI SUKHANVER

Ali display picThe whole of Pakistani nation observed 20th of this July as a Black Day in showing solidarity with the helpless people of the Indian Held Kashmir who have been facing all kind of atrocities at the hands of the cruel Indian army for the last many decades. The history of these cruelties is replete with so many examples of callousness and pitilessness of the Indian authorities against the Kashmiris but whatever the Indian army did in the last two weeks is really heart-rending. So many innocent young Kashmiris were brutally murdered by thrusting bullets directly into their eyes, so many young girls raped in presence of their parents and so many houses burnt to ashes along with their inhabitants; the whole of Kashmir valley was painted with blood, smoke and the cries of the crushed ones but unfortunately the international authorities on peace and human rights are all silent. They are even avoiding discussion on the fresh wave of atrocities in Indian Occupied Kashmir. Why is everyone silent, everyone dumb; no reaction, no protest at international level. It seems that internationally the Kashmir issue is being taken as some personal problem of Pakistan but fact of the matter is that Kashmir is not a personal problem of Pakistan; it is the problem of countless helpless Kashmiris whose lives have become a hell at the hands of ruthless Indian forces. Read More »THE CIVIL WAR IN INDIAN HELD KASHMIR

Solar, electric rickshaws to run in Peshawar soon

solar-electric-rickshaws-To control the ever increasing environmental pollution, the Khyber Pakhtunkhwa (KPK) government has decided to introduce solar and electrical rickshaws in Peshawar soon.

Talking to a private news channel, Secretary transport department KP Hamid Gigyani said that the KPK government wanted to reduce pollution in the province and particularly in the capital city Peshawar and that was the reason the electric and solar rickshaws were being introduced.

He said that a number of companies had submitted their proposals to the KPK transport department to introduce rickshaws run by electricity and solar technology.Read More »Solar, electric rickshaws to run in Peshawar soon