Lahore: The Federal Board of Revenue (FBR) has announced its decision to execute an audit of the 55 cooperative housing societies, according to news sources.
As per the details shared, the board has asked for the authorities to provide the sale/purchase property records of the last 5 years from the specified housing societies. The said societies have been given a 15-day deadline for the provision of these records or face legal consequences initiated by the tax authority.
Earlier this month, FBR also issued a taxation procedure for the transactions made by cooperative housing societies and instructed the tax collection offices to ensure tax amount recovery of past years against the corresponding sales and purchases.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
