Yes, the tax deducted/collected at the time of transfer of immovable property is adjustable.
Under Section 236C/236k of the Income Tax Ordinance, 2001, tax is collected from the seller/buyer at the time of transfer/registration.
This tax is considered as advance tax .
Advance tax can be adjusted against the person’s final tax liability, including salary income.
The tax can only be adjusted against salary.within same financial year. If it is unadjusted Commissioner approval will be required for carrying forward or claim a refund for such extra tax paid.
