Islamabad: The Federal Board of Revenue (FBR) has revised the territorial jurisdictions for the collection of advance income tax on property transactions in Karachi, according to a news source on February 18.
Pursuant to the details, the changes, outlined in a notification from the FBR headquarters in Islamabad, modify the jurisdiction for collecting advance income tax under Sections 236 C and K of the Income Tax Ordinance, 2001. The responsibility for monitoring and collecting these taxes has been assigned to the Regional Tax Office (RTO)-1 in Karachi.
The updated jurisdiction of RTO-1 includes several towns across Karachi’s districts, such as Arambagh, Civil Lines, Garden, Lyari, and Saddar in District South; Baldia, SITE, Maripur, and Harbour in District Keamari; Liaqatabad in District Central; Jamshed Town in District East; Orangi Town in District West; and Clifton Cantonment, Karachi Cantonment, and Manora Cantonment. Chief Commissioner of RTO-1 Dr Faheem Mohammad emphasised that advance income tax on property transactions is a key component of overall revenue collection.
He urged all sub-registrars within the revised jurisdiction to ensure that property transactions align with the FBR’s valuation table. This will help ensure proper tax collection under Sections 236 C and K during the sale and purchase of properties.
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