The Federal Revenue Council (FBR) reviewed the regional jurisdiction to collect prior income tax on property transactions in Karachi, where he received observation responsibilities for the Regional Tax Office 1 (RTO-1), according to a notice issued by Islamabad.
According to the updated judicial mandate, RTO-1 will be supervised by tax collection under Articles 236C and 236 thousand of income tax decree, 2001. The new tax areas include Arambagh, Lines CIVIL, Garden, Lyari, and Saddar Towns in District South; Baldia, site, Maribor, and Murfour Madinati in the Kimari region; Liquratabad in the Central area; The town of Jamsheed in the eastern region; Orange City in the West area; Likewise, Klifton, Karachi, and Manura Canton.
The chief commissioner, Dr. Fahim Mohamed, emphasized that the prior income tax on property transactions is a great source of revenue and urged sub -registrants in the revised judicial jurisdiction to ensure compliance with the FBR property assessment schedule.
He stressed that the collection of taxes on property and purchasing sales must be in line with the prices specified under the income tax law to maintain transparency and increase the generation of revenues.
