New tax is causing a slowdown in property transfers, say realtors

New tax is causing a slowdown in property transfers, say realtors

Section 7E taxes individuals on the assumed rental income of their immovable property, regardless of its rental status. The slowdown in property transfers has negatively affected both the real estate sector and the overall economy. The government has not yet responded to the calls to repeal or amend Section 7E. Since the enforcement of Section 7E (tax on deemed rental

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