FAISALABAD: The Regional Tax Office (RTO) of the Federal Board of Revenue (FBR) has detected short payment of taxes amounting to Rs 687,560 in July 2016 by Jaranwala Toll Plaza contractor Abdul Majeed.
Following the directions of RTO Chief Commissioner Shad Muhammad, withholding department Inland Revenue Officer Muhammad Mazhar Ejaz examined the withholding tax statements filed by the contractor and found some discrepancies. It was detected that the company paid installment amount of Rs 5.855 million in wake of taxes for the month of July 2016, but it paid 10 percent less taxes amounting to Rs 687,560.
The RTO after detecting the shortfall in the tax deposited by the company issued a demand notice to recover the remaining tax liabilities. The notice was issued under Section 161 (1), 205 of the Income Tax Ordinance, 2001 for tax year 2017.
