Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
FBR Estimates Billions Of Rupees Property-Tax Recovery
10-25-2013, 07:07 PM
Post: #1
FBR Estimates Billions Of Rupees Property-Tax Recovery
Karachi – As per data collected by the RTO (Regional Tax Office), there is a difference of Rs. 113 billion between the market value and the official records maintained by the Sindh Government for 11,600 residential and commercial plots in DHA (Defence Housing Authority). The values of these properties have not been modified since 2010.

According to the Income Tax Ordinance, 2001, if anyone owns a land of 250 square yards or more is liable to file tax returns. However, none of the owners of 11,600 properties have trailed any return, said RTO Officials.

Calculations done by the RTO unveil that these property owners are obligated to pay FBR a property tax of Rs. 34 billion in total, on the difference between the market value of properties and values recognized by the Sindh Government.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  Govt of Punjab Spending Billions of Rupees in Development of Sialkot Road Projects LRE-Azan 0 990 11-06-2017 05:08 PM
Last Post: LRE-Azan
  ETPB land worth billions of rupees illegally occupied in Lahore Salman 0 2,535 02-18-2014 01:13 PM
Last Post: Salman
  Billions of LOS project going down drain Salman 0 2,029 02-04-2014 12:20 AM
Last Post: Salman
  Billions ‘embezzled’ in FDA City project Salman 0 4,552 11-25-2013 01:33 PM
Last Post: Salman
  Billions of rupees irregularities unearthed in allotment of CDA plots Salman 0 6,530 09-02-2013 12:50 PM
Last Post: Salman
  The Judicial Probe Into The EOBI Scandal Reveals Corruption Of Billions Of Rupees Salman 0 4,410 07-23-2013 01:01 PM
Last Post: Salman
  RCB’s tax recovery improving Salman 0 2,103 10-03-2012 05:53 PM
Last Post: Salman
  ‘Illegal allotment by CDA caused losses of billions’ Lahore_Real_Estate 0 2,314 01-24-2012 11:36 AM
Last Post: Lahore_Real_Estate
  Huge potential for marble products export: Trade missions can fetch billions of dolla Salman 0 2,829 01-05-2012 04:43 PM
Last Post: Salman
  State land: Officials ‘exaggerated’ recovery numbers Lahore_Real_Estate 0 2,325 07-02-2011 12:06 PM
Last Post: Lahore_Real_Estate
  LHC extends stay against recovery of commercialisation fee by LDA Lahore_Real_Estate 0 2,083 06-15-2011 12:32 PM
Last Post: Lahore_Real_Estate
  Property tax recovery decline blamed on violence, old rates Lahore_Real_Estate 0 2,153 06-01-2011 12:20 PM
Last Post: Lahore_Real_Estate
  LHC extends stay against recovery of CVT from EOBI, its officials Lahore_Real_Estate 0 2,452 01-29-2011 02:12 PM
Last Post: Lahore_Real_Estate
  CDWP Approves Projects for Baluchistan Worth Billions of Rupees LRE 0 2,251 01-23-2011 09:56 AM
Last Post: LRE
  PR owns land worth billions of rupees, NA told Lahore_Real_Estate 0 2,214 01-01-2011 11:33 AM
Last Post: Lahore_Real_Estate
  Sugar worth millions of rupees recovered Lahore_Real_Estate 0 2,170 12-13-2010 01:24 PM
Last Post: Lahore_Real_Estate
  Billions of Rs. Drown in Dubai Real Estate LRE 2 4,986 11-21-2010 12:00 AM
Last Post: LRE
  Obama mission: Billions to Pakistan, billions from India Lahore_Real_Estate 0 2,168 10-20-2010 05:12 PM
Last Post: Lahore_Real_Estate
  Pakistan needs up to $30 billion for flood recovery Lahore_Real_Estate 0 2,665 10-13-2010 01:19 PM
Last Post: Lahore_Real_Estate
  Zardari warns flood recovery could take years Lahore_Real_Estate 0 2,001 08-24-2010 11:50 AM
Last Post: Lahore_Real_Estate

Forum Jump:


User(s) browsing this thread: 1 Guest(s)