Budget 2023-24 On Real estate Industry | Good News For Overseas Pakistanis | Constructors & Investor

Budget 2023-24 On Real estate Industry | Good News For Overseas Pakistanis | Constructors & Investor


The government has decided to provide tax relief of 10 percent or Rs. 5 million on the business income of builders for the next three years.

A similar incentive will also be provided to individuals i.e. they will get tax relief of 10 percent or Rs. 1 million for the next three years. The tax relief will be applicable on construction projects that start after July 1, 2023.

To promote the construction industry, agriculture, and small and medium-sized enterprises (SMEs), the government had introduced a concessional rate of tax for banks providing loans to these sectors from 2020 to 2023.

The income of banks through loans provided to these sectors was to be taxed at a concessional rate of 20 percent against the standard rate of 39 percent.

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