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Office # 102, Nafees Arcade, Opposite Askari Park, University Road, Karachi, Pakistan.

Claim of withholding tax paid against immovable property - K. K. ADVISORS

August 26, 2020by Admin0

A person purchases property of Rs. 3,000,000 in the name of his wife. Payments made at full through his bank account. Further, he paid the following amounts on the said property.

  • Stamp duty                     10,000
  • Capital value tax 5,000
  • Withholding tax {236(K)} 3,000
  • Development charges 20,000

Can a person claim the withholding tax of Rs? 3,000 in his annual return?

 

Solution:

 

The answer is No. Whoever paid the amount of the assets, withholding tax under section 236K can be claimed only by the person on whose name the property has been registered.

If his wife is a registered taxpayer, only then she can claim the withholding tax amount and adjust this through her annual return.

Admin

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