Real Estate Offices in Islamabad must register under E&T
Islamabad Excise and Taxation (E&T) Department has made registration of Real Estate Offices in Islamabad compulsory. The ultimate aim is to enhance the revenue generation.
As per news sources, 900 offices have registered themselves. In the 1st phase of this drive, sector based offices will be registered said Director Excise Bilal Azam. Further, he added that E&T team has already conducted the survey to get an estimate about the exact number of Real Estate offices operating in the Capital. Meanwhile, Sardar Tahir Mahmood, President of Islamabad Property Dealers Association, assured E&T department that more than 2000 respective offices will register themselves.
PKR 12,000 is the registration fee . It includes PKR. 10, 000 for professional tax & PKR 2, 000 for registration fees.
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On March 31st, 2020 was the last date for all registration. Afterwards, serious legal actions will be taken against unregistered offices. Moreover, the department has also advised citizens to only deal with registered property offices.
News Source: E&T launches campaign to register real estate offices