Punjab extends property tax to housing societies

According to excise officials, Punjab has expanded its property tax collection system to include housing societies outside urban areas for the first time.

Residents of government-approved housing societies will now have to pay property tax using DC rates under a new system. Officials said the ETO can assess and determine excise tax.

Around 2.5 million property owners across Punjab are part of the tax net. The inclusion of housing societies outside city limits is expected to significantly increase tax revenue.

Excise officials also confirmed that the summary will be submitted to the government this week for final approval after cabinet approval.