LAHORE: The Federal Board of Revenue (FBR) has initiated action against non-filers who bought expensive properties in the provincial capital till the last financial year (July 2020-21 (FY21), Profit has learnt.
In this regard, a senior FBR official informed Profit that the bureau’s regional tax office in Lahore had collected data on 5,491 non-filers.
“Interestingly, these non-filers have paid tax under Section-236 of the Income Tax Act but have not yet come in the tax net. The process of sending notices to all such non-filers has been initiated,” he informed.
However, sources informed that the construction industry was given a relief package by the government during the Covid-19 lockdown and many people who were not fully aware of the details of the package started investing in expensive houses.
“These people were under the impression that the relief package was also for buying and selling properties whereas it was only for commercial construction activities. All of these people are from Lahore; if the FBR expands the scope of investigation, it will find out that many non-filers have also invested in housing projects outside Lahore and are also not part of the tax net,” they informed.
