Pak Arab Housing Society in Lahore comes on FBR radar
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A big housing society of Lahore has come on the radar of Federal Board of Revenue as the board has recovered Rs6 million after freezing accounts of its partners, reported 24NewsHD TV channel on Saturday.
As per the details, the FBR took action against a big housing society in Lahore – Pak Arab Housing Society. The board after freezing accounts of the owners of the housing society has placed lock on the door of its head office.
According to the FBR, the housing society defaulted on an income tax amount to the tune of Rs6.5 billion. The FBR after freezing accounts of its partners recovered Rs6 million.
The Pak Arab Housing Society defaulted on its income tax from 2014-2019.
Again and again, the housing society was issued notices in this regard but the administration did not pay the tax money.
On the directions of Commissioner Enforcement Naeem Babar, the head office of the Pak Arab Housing Society has been sealed.
An FBR team comprising Deputy Commissioner Corporate Umair Shafqat Gujjar, inspector Syed Waqas Ahmad and others carried out the orders.
The FBR took action after detecting a secret transaction of billions of rupees during its audit.