For Fatehjang residents who work in Islamabad and Rawalpindi, run shops in the town or live on income from land and rent, this page explains the filing and wealth statement questions that come up most often.
Looking for a narrower angle? See our page on Fateh Jang land sales to housing schemes.
Commuters to Islamabad and Rawalpindi
The motorway has made Fatehjang a commuter town. Employees of offices, banks and companies in the twin cities have tax deducted from salary, and a filed return claims any excess deduction while listing the house or land they own in Fatehjang.
Retired Servicemen
Many families have members who served in the armed forces. Pensions are generally exempt, but rent from property and profit from a shop or transport business are taxable.
Rent from Shops and Houses
As the town grows, owners rent out shops on the main bazaar and houses to families moving in. Rent is declared under property income, and where the tenant is a company or a bank, tax deducted on rent is credited.
Shops and Services
General stores, hardware shops and pharmacies keep supplier bills, daily takings and stock counts.
Family Land
Families holding land declare crop income as exempt, and where they sell part of it, keep the sale deed, mutation and the acquisition record of the land for the capital gains calculation.
Wealth Statement
The wealth statement brings together houses, land, vehicles, gold and balances, and should show how any new property was paid for.
Frequently Asked Questions
Do commuters to Islamabad need to file?
Filing claims excess salary deductions and keeps them on the Active Taxpayers List.
Is rent from my shop taxable?
Yes, rent is property income.
Do I need records when selling family land?
Yes, the acquisition record determines how any gain is taxed.
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