Lahore: The Federal Board of Revenue (FBR) has served notices to 300 people who purchased properties in high-end areas and bought expensive cars during the last three years, reported a news source. This also marks the start of FBR’s investigation against the tax matters of people living in these areas.
According to details, the notice has been served to people who purchased properties in Defence Housing Authority, Model Town, Gulberg and Cantt in the last three years. That’s in addition to those who purchased luxury cars. The notice demands the property and car owners’ details on sources of income.
To be more specific, scrutiny is being carried out for property and car purchasers who made a transaction for these assets between 2015 and 2017. The recipients of these notices are to submit a reply latest by December 14, sharing details on their sources of income.
According to sources within FBR, legal actions will also be taken against filers of income tax returns who didn’t declare their assets.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
