Punjab to Impose Tax on Houses Amidst Inflation
Inflation has brought a new challenge to the people of Punjab, with the government deciding to impose a tax on houses in the province.
According to recent reports, the government has decided to impose a tax on small and large houses in Punjab. The Transport Department has been ordered to compile the records of all houses in the province next month.
Customs officials have stated that a record is being compiled of all houses measuring 5 marla and above in Punjab. After the records are compiled, tax will be levied on these houses, with the tax rate shifting to the DC rate from January 1. As per the DC rate, houses valued at over 50 lakhs will fall within the tax net.
The Standing Committee of the Punjab Cabinet has approved the imposition of a garbage tax in the province, which will be levied on households and businesses.
In rural areas, the tax rates will be as follows: Rs 20 on a 5 marla house, Rs 40 on a 10 marla one kanal house, Rs 300 on small businesses and shops in villages, Rs 700 on medium businesses, and Rs 1,000 on large businesses.
In urban areas, the tax rates will be: Rs 300 on a 5 marla house, Rs 500 to 2000 on a 10 marla one kanal house, and Rs 5,000 on houses larger than one kanal.
