The Federal Board of Revenue (FBR) has enacted Section 114C under the Finance Act 2025, redefining eligibility for high‑value economic transactions. Individuals failing to declare sufficient income assets or file preceding tax returns are deemed “ineligible persons.” Starting from July 1, they are barred from purchasing vehicles over Rs 7 million, property above Rs 100 million, and investments over Rs 50 million.
Non‑eligible individuals will also be prohibited from cash withdrawals exceeding Rs 100 million and account operations beyond basic Asaan accounts—all to curb undeclared wealth and boost tax compliance.
New rules block ineligible persons from buying expensive vehicles, high‑value property, or making large investments without proof of declared wealth.
income‑tax, asset‑transactions, tax‑compliance
