Income derived from property has always been categorised as taxable income. However, people were allowed few deductions in the pastfrom the income received in the form of rent revenue. These deductions included property tax and one-fifth of the rent for repair. However, these deductions have been cancelled and no reasonable and sufficient justification has been provided for this change.
The authorities are requested to allow deductions for property tax. In this regard, the expenses incurred in repairing and maintaining a property should be allowed to be deducted from taxable income. It is hoped that the federal department of revenue will adopt a proper policy and allow reasonable deductions for taxpayers.
Kh Taraq ( Islamabad )
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