Capital Gains Tax (CGT) is the tax you pay to FBR on the profit you make by selling your property. This tax is paid at the time of filing your returns. As per your new tax rules 2024, you have to pay a fixed 15% Capital Gains Tax. You have to make sure that the transaction you make at the time of buying a property should be through a proper banking channel, i.e. by cheque, pay order or online bank transfer. In case of Cash Transaction at the time of purchase, FBR may levy CGT on total sale price and may also impose a 5% fine on your FBR or DC Value (whichever is higher) of your property.
Watch the video for detailed information on this new rule of Capital Gains Tax so that you can comply with the FBR rules to avoid such issues.