LAHORE: The Federal Board of Revenue has recovered Rs 67 million from three accounts of Valencia Town Housing Society by freezing its accounts.
According to sources , it was found that this renowned housing society of Lahore found involved in defaulting of income tax and is not ready to clear the outstanding amount despite many reminders by the Regional Tax Office.
Officials of the Tax Office said that FBR has sent many notices to the Society but they failed to pay their outstanding amount. Now Federal Board of Revenue has freeze its accounts and recovered some of its default amount. Rs 20 million have been recovered from the accounts of the society that was in MCB Valencia Town. Two other accounts were also found in Habib Metropolitan Bank and recovered default amount as well.
Inspector Inland Revenue Chaudary Bilal Sayed Shabir Rizvi and other officials were part of the teams that took this action against Valencia Town Housing Society Lahore.
