LAHORE: The Federal Board of Revenue (FBR) has written a letter to all the banks for freezing of bank accounts of housing societies that are involved in alleged tax evasion and default.
The FBR seems to be in action nowadays as its staff has conducted various operations against tax defaulters and detained a few of them while issued notices to contractors as well.
Sources told Customs Today that the FBR has recovered Rs275000 from Naeem Jewellers who was a defaulter of income tax since 2013.
On the other hand, the FBR has issued income tax notices to several contractors, construction companies and consultants as well. The FBR has issued notices to housing societies too with regard to income tax of the current year. Notices have been issued to Hamza Residencia, Star Residences, Sheranwala Heights Housing Scheme, Icon Valley Housing Society, Square Housing Society, Rehman Gardens, Bismillah Developers and Liberty Consulting.
On the other hand, Chiragh Builder is a defaulter of Rs600000 while Basria Developers is also a tax defaulter of Rs600000. Bismillah Housing Society is a defaulter of Rs05million following income tax for the year 2015.
It is also necessary to mention here that the FBR has expedited its efforts to recover the outstanding tax amount from tax defaulters as current fiscal year is going to expire soon. Now Federal Board of Revenue has started strict action against all the tax evaders and defaulters.
