MULTAN: The Inland Revenue (IR) Intelligence and Investigation seized the office record of property dealer allegedly involved in tax evasion by showing lower prices of valuable properties in official documents.
According to the details, a team of IR Intelligence comprising Deputy Director Irfan Khan Tareen, Auditor Mukhtar Mehrvi, Inspector Ghazanfar Siddique, Hashir Saeed and others conducted raid following intelligence information.
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The alleged dealer is involved in buying and selling of valuable properties and bungalows of Wapda Town and other adjacent towns by declaring the low amount in order to pay the minimum taxes causing loss to national exchequer.
It is learnt that the property dealers of Wapda Town phase 1, 2 and 3, Model Town, Green Fort Colony and other housing societies claim high values of the property through advertisements and the current value of 272.25 square feet (one marla) is around Ra 0.3 million to 0.9 million.
But in transfer letters, the value of property is mentioned at Rs 0.1 million to save the taxes.
The officials have started the investigation and more revelations are expected soon regarding the matter.
