FMV (Fair Market Value)

The value FBR uses for property — often notified valuation tables — to compute 236C/236K tax.

Explained Simply

For property transactions, tax is calculated on the fair market value, which FBR notifies through valuation tables for each area. The higher the FMV, the higher the advance tax on purchase or sale.

Legal Definition

Concept under section 68 of the Income Tax Ordinance, 2001.

📖 Section 68

💡 Example

If FBR values a plot at Rs 10M and a filer buys it, 236K at 1.25% = Rs 125,000.

Educational definition, not legal advice. Verify against the statute text (Section 68) before acting.