KARACHI: The Federal Board of Revenue (FBR) Regional Tax Office-I (RTO-I) has issued notices to as many as six companies for declaring less income in tax returns than the previous three years.
As per details, the RTO was monitoring the companies located in Sher Shah and Gulbai areas of Karachi and now it has issued notice to Muneeza Embroidery and Export, Jawwad Chemicals, Mubeen Hosiery, Ayyan Enterprises, Saleem Textile and Rubi Traders after finding some discrepancies.
During current year, Muneeza Embroidery and Export deposited Rs 80,000 as tax, Jawwad Chemicals Rs 60,000, Mubeen Hosiery Rs 60,000, Ayyan Enterprises Rs 45,000, Saleem Textile Rs 123,000 and Rubi Traders deposited Rs 300,000.
It is important to mention here that the accused companies deposited Rs 500,000 every year during last three years. The RTO has summoned all record of income from these companies within 12 days.
Meanwhile, the RTO-III has recovered Rs 48 million from four companies of a big group, Tufail Industries.
Sources said that the Tufail Industries filed returns of 12 companies every year but this year only returns of 8 companies were filed on which the department issued notices to it.
Responding to the notices, the Tufail Industries deposited taxes payable by four companies, including Tufail Sugar Mill, Tufail Textile, Megna Textile and Baweja Dying.
