Karachi:
The Federal Board of Revenue (FBR) revised the territorial jurisdictions for prior income tax on real estate transactions in Karachi, the office of the chief commissioner said on Sunday in a press release published here.
According to a notification issued by the siege of FBR, Islamabad, the territorial jurisdiction for the collection of prior income tax on real estate transactions under article 236 C and K of the income tax order , 2001 had been modified.
He said the surveillance and perception of these taxes had been allocated to RTO-1, Karachi. The revised jurisdiction of RTO-1 included cities of Arambagh, Civil Lines, Garden, Lyari and Saddar of District South, Baldia, Site, Maripur and Harbor Towns of the Kaemari district, Liaqatabad Town of Central District, Jamshed Town of District, East , Orangi Town, city of Orangi of District West, Clifton Cantonment, Karachi Cantonment and Manora Cantonment.
Chief Commissioner RTO-1 Dr Faheem Mohammad said that advanced income tax on the sale and purchase of goods under the income tax order, 2001, was an important element of overall income collection.
He urged all sub-registrations, in his territorial jurisdiction to guarantee real estate transactions in accordance with the FBR assessment table so that the right tax has been collected in accordance with articles 236 C and K during the sale and the purchase of goods, respectively.
