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The Punjab Excise and Taxation Department has unveiled a significant property tax exemption for houses and residential plots valued at up to Rs. 5 million. This move, approved by the provincial cabinet, was announced in a notification issued by the Directorate General of Excise and Taxation.
According to the notification the upcoming property tax evaluations will adopt District Collector (DC) rate methods for standardized assessment calculations. Director General of Excise and Taxation Umar Sher Chattha announced taxpayers will not need to pay additional property tax during the current fiscal period.
The department established a new rule requiring citizens to pay no more than 25% of their total tax liability throughout this fiscal year. The provincial government demonstrates its support for tax relief to residents through reduced tax burden transparency.
Property owners can now calculate their property tax using a self-assessment system introduced by the government. The initiative brings simplification to taxation together with reduced need for outside assistance to enable effortless and transparent citizen control of their tax responsibilities.
This policy change represents a major transformation in how Punjab handles property tax administration. Small properties including houses of up to five marlas received tax relief according to previous regulations. The updated method emphasizes property valuation to deliver wider tax relief while enhancing public transparency and ensuring tax fairness throughout the collection process.
Umar Sher Chattha emphasized the importance of these changes, noting that they are part of a broader effort to streamline the taxation system and address longstanding concerns of property owners. “This initiative is a step towards simplifying the tax structure and ensuring that citizens receive the relief they need,” he said.
This announcement comes as part of the government’s broader strategy to enhance transparency and fairness in property taxation, benefiting a significant portion of Punjab’s population.
