KARACHI: The Regional Tax Office-III has successfully made a huge revenue recovery of Rs 37 million from the Karachi Metropolitan Corporation (KMC) and the defunct Karachi Development Authority (KDA) under the head of withholding tax.
Earlier, over the default of payment, the bank accounts of KMC and the defunct KDA were attached by the RTO-III authorities under Section 161 of the Income Tax Ordinance 2001. The KMC owed Rs 20 million, while the KDA had to pay an outstanding amount of Rs 17 million. Later, the KMC authorities deposited their dues into the government’s treasury.
