AFTER retirement from government service in 1992, I built a house in DHA, Karachi, and also obtained its ‘A’ lease. Now when applying for ‘B’ lease of this property, I am required to pay the capital value tax (CVT) and advance tax. According to the Sindh Finance Act, 2010, the CVT is applicable on the acquisition of property, Already ‘A’ lease-holders are exempt, as it pertains to only change of documents as no property is being sold nor purchased.
Further, in accordance with the FBR, SRO 30 (1) 2015 and Sindh Revenue Board orders, these taxes are to be paid during the purchase or transfer of property and, therefore, ‘A’ lease-holders are exempt.
I hope the Chief Justice of Pakistan would consider this anomaly and save us from further unjustified payment.
A Senior Citizen
(Name withheld on request)
Published in Dawn, November 26th, 2018