Revision of Income Tax and Stamp Duty Rates 2022

Last Updated on July 5, 2022 by Galaxy World

I am sharing the Revision of Income Tax and Stamp Duty Rates 2022 for immovable property. The details are as under:

Revision of Income Tax and Stamp Duty Rates 2022

 

  1. After approval of Finance Act 2022/23, wef 1 Jul 2022, advance tax rates for tfr of immovable property (Sec 236C & 236K) have been revised. Details of new taxes are as follows:-

 

Description 236 C (Adv Tax on the seller) (on FBR Rates) 236 C (Adv Tax on Buyer (on FBR Rates) Stamp Duty (on DC Rates)
Old Rates Active Tax Payer 1%

Non-Active Tax Payer 2%

Holding Period 4 years

Active Tax Payer 1%

Non-Active Tax Payer 2%

 

1%
New Rates Active Tax Payer 2%

Non-Active Tax Payer 5%

Holding Period Unlimited

Active Tax Payer 2%

Non-Active Tax Payer 5%

2%

 

  1. It is highlighted that new rates will be implemented wef  Jul 2022. Furthermore, all tfr will be carried out with new rates wef 1 Jul 2022.

 

You may also like: Income Tax Rates 2022-23 for Employees

 

Revision of Income Tax and Stamp Duty Rates 2022

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