Builders and developers will use their black money in construction projects. The PTI government has prepared a plan to allow builders and developers to invest in black-and-white construction projects. In this case, investment sources from builders and developers Will not be questioned. The government has taken this decision to accelerate the slow-moving construction sector. However, it is likely to raise concerns about black smoke. Likely to be brought.
In this regard, the proposal to reduce the income tax deduction of developers and builders has also been finalized. Under the banner of the new Pakistan Housing Authority, income from low-cost housing societies will be deducted by 90% in taxes from builders and developers. – Builders and developers will be exempted from tax, computer blood audit and production of records on investment in construction projects. It will not be asked where to invest these rolls according to i Draft Rules. Builder and Developers Special Procedures Rules 2019 will be called The FBR plans to roll out these roles under Article 99C of the Income Tax Ordinance 2001. FBR is going to amend the Income Tax Clauses relating to unapproved income, computer bill audit and production of records.
However, in the event of huge concessions to the construction sector, questions will be raised about the tax laws of the government under which the government has launched a crackdown against blacksmiths. Spokesman FBR Dr Hamid Atiq Sarwar did not respond to questions on these huge privileges. Prior to the implementation of these special roles, the FBR A will upload the draft rolls to its website so that stakeholders can comment on these rules.