Income Tax Act 2023
Section 128 - Collection of Tax from Lease of Property
(as updated till Finance Act 2024)
Any registering officer responsible for registering, under the Registration Act, 1908 (Act No. XVI of 1908), any document in relation to any lease of immovable property for not less than 10 (ten) years shall not register such document unless tax is paid at a rate of 4% (four percent) 1[by the lessee] on the lease amount of such property.
1 The words “by the lessee” were inserted by section 47 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
Disclaimer: This is the authentic English text of the Income Tax Act 2023, as published under SRO No. 404-Law/2025 dated 08 October 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.