GOVERNMENT OF PAKISTAN REVENUE DIVISION FEDERAL BOARD OF REVENUE INLAND
Subject: EFFECTIVE MONITORING OF WITHOLDING TAX ON SALE/PURCHASE OF IMMOVEABLE PROPERITES IN HOUSING SOCIETIES. I am directed to refer to the subject and to state that withholding collection form housing societies is a challenging area and it is reported that the housing societies generally keep their files open in order to avoid recording of actual quantum of transactions of sale / purchase of immoveable properties as well as to avoid tax -Ws 236C / 236K of the Income T. Ordinance, 2001.
2. In view of the above, I am directed to request that an effective monitoring/withholding audit exercise may please be taken up of major housing societies, on priority, in order to address the issue and improve the withholding revenue collection from this sector. In this context, the first progress report be shared with the Board by , positively.
Co,
Member IR-Operations, FBR, Islamabad.
