FBR revises property tax jurisdiction

A notification was issued by the FBR Headquarters, Islamabad

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KARACHI:

The Federal Board of Revenue (FBR) revised the territorial jurisdictions for advance income tax over property transactions in Karachi, the office of the chief commissioner said in a press release issued here on Sunday.

According to a notification issued by the FBR Headquarters, Islamabad, the territorial jurisdiction for collection of advance income tax over property transactions under Section 236 C and K of the Income Tax Ordinance, 2001, had been modified.

It said that the monitoring and collection of these taxes had been assigned to the RTO-1, Karachi. The revised jurisdiction of the RTO-1 entailed Arambagh, Civil Lines, Garden, Lyari and Saddar towns of District South, Baldia, SITE, Maripur and Harbour towns of District Kaemari, Liaqatabad town of District Central, Jamshed Town of District East, Orangi Town of District West, Clifton Cantonment, Karachi Cantonment and Manora Cantonment.

Chief Commissioner RTO-1 Dr Faheem Mohammad stated that the advance income tax over sale and purchase of property under the Income Tax Ordinance, 2001, was an important component of the overall revenue collection.

He urged all sub-registrars, in his territorial jurisdiction to ensure property transactions as per FBR's valuation table so that proper tax was collected as per the Section 236 C and K during the sale and purchase of property, respectively.