According to news sources, the Punjab Excise and Taxation (E&T) Department has announced plans to tax 5 Mala homes in all categories instead of the traditional A-Category 5 Mala homes only.
Reportedly, the local E&T department has formulated a proposal to tax these homes based on the rental value.
This proposal has passed to the provincial government for approval and enforcement in the next fiscal year. The department said it owns a list of rates for all areas of the province.
Homeowners with an annual income of PKR 225,000 are required to pay 5% of the amount in property tax according to the proposed plan. The final decision in this regard will be approved by the government.
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