The excise department has notified as many as 88,000 filers to pay property tax, warning that a crackdown will be carried out against those who do not file their returns till December 31, a news source reported.
A 5% rebate will be given to the citizens who file their returns within the stipulated period.
The Punjab Government had earlier announced its decision to raise the property tax by 10% and the excise department said it had updated its software which now included the revised amount.
According to the announcement, the returns can be submitted in any district branch of the National Bank of Pakistan (NBP) or State Bank.
Citizens have also been asked to report to the concerned office of the Excise, Taxation and Narcotics Control Department or any facilitation center in case of non-availability of PT-10.
After the 10% increase, citizens would now have to file an accumulative return of PKR 1.5 billion on property tax. A crackdown against defaulters will begin on January 1.
According to the government orders, defaulters will have their properties and immovable assets will be seized. Arrests will also be carried out in this regard.