Notification for Residential Houses and Plots exempt from property tax

Date: 24th January 2025

The Punjab Excise and Taxation Department has issued a notification regarding reforms in property tax.

Under the reforms, the future property tax will be determined as per the value given in the DC table. 

Exempted property residential house and Tax exempted plot in pakistan which worth up to Rs 50 lakh have been declared exempt from tax. Existing taxpayers will not have to pay any additional tax this financial year, while new taxpayers will have to pay only 25 percent of their total tax this year. 

The DG Excise and Taxation further explained that the facility of self-assessment is being provided to taxpayers to estimate their tax liability themselves. 

Through this system, taxpayers will be able to easily estimate their tax liability according to the value of their property for property tax exemption.