Tax Solutions

26/07/2026

26/07/2026

*Important Update / Good News*

*This is great news for those who want to be included in the Active Taxpayers List (ATL) without paying the Rs. 25,000 surcharge.*

*Today, the FBR opened the submission of Income Tax Returns for Tax Year 2026. I filed the return of a first-time taxpayer at around 2:00 PM, and within three hours, the taxpayer's status changed to Active.*

*This means that if you file your Tax Year 2026 return, your name should be included in the Active Taxpayers List, usually within 24 hours.*

*This is a major relief for taxpayers whose transactions were on hold due to inactive ATL status. It also clears the confusion about whether filing the Tax Year 2026 return would restore ATL status.*

*The confusion is now resolved — filing the Tax Year 2026 return is resulting in automatic inclusion in the Active Taxpayers List.*

29/03/2026

*Proposals to be submitted by Ministry after through consultations last night on Monday or Tuesday*

1. No Financial Monitoring in case of overseas Remittances
2. ⁠No 7E
3. ⁠236-C reduced to 1.5% (Further only applied 30% of 1.5% if property sold within 1 year, to encourage short term investment)
4. ⁠236-K reduced to 0.5%
5. ⁠No double tax regime
6. ⁠Fixed Tax for OS Investors
7. ⁠No tax up to 1 Kanal plot/ house
8. ⁠No tax for first time plot/ home owner
9. ⁠No tax on housing loan
10. ⁠Introduction of REIT, Home loan (5%), RERA
11. ⁠Introduction of uniform valuation with market rates
12. ⁠Low-cost housing loans (at 5%)
13. ⁠Mandatory bank lending targets
14. ⁠Allow developer-led financing models
15. ⁠Mortgage market development (bonds, PMRC strengthening)
16. ⁠Green mortgages & Takaful-based housing Insurance
17. ⁠Introduction of uniform property valuation with market rates.

Expected that Provincial taxes will be reduced by April end or Mid May 2026, reduction in Federal taxes will be announced in budget.