Instructions regarding mode and manner for payment of tax 2023-24
Under section 236C of the Income Tax Ordinance 2001(the Ordinance), any person responsible for registering, recording, or attesting transfer of any immovable property has been designated as the person responsible (hereinafter referred to ‘transferring authority’) to collect advance adjustable Income tax from the seller or transferor. The rate of tax collection is 3% of the gross amount of the consideration received by the seller or transferor in case of seller’s/transferor’s name if appearing on the Active Taxpayers’ List (ATL) and 6% in case of non-ATL seller/transferor.
Click here to see attached document from Government of Pakistan Revenue Division Federal Board of Revenue.