Another important FBR decision: Cash purchases of a home or property must be registered

KARACHI: The Federal Bureau of Revenue (FBR) has made it mandatory to register a cash purchase of a house or property.

According to the details, the FBR has taken another important decision, according to which it has been made mandatory to register the cash purchase of the house or property of the citizens.

The FBR requires all developers to report a cash transaction in the form of cash, and to purchase and sell a house or property for more than two million rupees in cash.

Estate agents will be required to disclose the sale and purchase of property for more than Rs.2 million in cash, the Federal Bureau of Revenue said, adding that currency transactions will not have to be reported when buying and selling banking.

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