G-12 is a developing sector on Islamabad's western side, where plots, new houses and older village settlements sit side by side. Our G-12 clients are plot owners, families building homes and residents of the older settlements.
Plots and Development Charges
Owners in developing sectors pay development charges and possession fees over time. Each payment adds to the cost of the plot in the wealth statement. Receipts from the authority or society should be kept, because they establish the cost for any future sale.
Building a House
Construction is usually funded over several years from salary, savings, loans and family help. The wealth statement should show construction costs added to the house's value each year, along with the source of funds.
Residents of Older Settlements
Families who owned land before the sector was developed may have received compensation or developed plots. Compensation and the land's history affect how a later sale is taxed, so the acquisition papers matter.
Getting Started
Share the allotment letter, payment receipts, construction records and bank statements. We prepare the wealth statement so that every stage of the property's cost is accounted for.
Mixed Rural and Urban Income
Some long-time G-12 families still earn from livestock or small farming on remaining land while family members work in the city. Agricultural income is a provincial matter and is declared as exempt in the federal return, while salaries and any business income are taxed normally. Keeping the two separate in records avoids confusion when the wealth statement is reconciled.
Part of our Islamabad tax consultant guide. Nearby: G-13 (housing allottees), G-5, G-10.
Frequently Asked Questions
Do development charges increase my plot's cost?
Yes. Development and possession charges paid are part of the cost shown in the wealth statement.
How do I show a house built over three years?
Add each year's construction cost to the house's value, with the funding source in the reconciliation.
Is compensation for acquired land taxable?
It depends on the nature of the land and the law at the time; agricultural land compensation is treated differently. We review the papers.
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