The Federal Board of Revenue (FBR) has revised the territorial jurisdictions for the collection of advance income tax on property transactions in Karachi. A press release issued by the office of the chief commissioner on Sunday confirmed the modifications, aligning the jurisdiction under Section 236C and 236K of the Income Tax Ordinance, 2001.
Jurisdiction Assigned to RTO-1 Karachi
According to the notification from the FBR Headquarters in Islamabad, the responsibility for monitoring and collecting these taxes has now been assigned to the Regional Tax Office-1 (RTO-1), Karachi. The revised jurisdiction of RTO-1 now includes specific areas from different districts of Karachi.
Areas Under Revised RTO-1 Jurisdiction
The new jurisdiction under RTO-1 covers the following areas:
- District South: Arambagh, Civil Lines, Garden, Lyari, and Saddar Towns
- District Keamari: Baldia, SITE, Maripur, and Harbour Towns
- District Central: Liaquatabad Town
- District East: Jamshed Town
- District West: Orangi Town
- Cantonment Areas: Clifton Cantonment, Karachi Cantonment, and Manora Cantonment
Importance of Advance Income Tax Collection
Dr. Faheem Mohammad, Chief Commissioner RTO-1, emphasized that the advance income tax on property transactions plays a significant role in revenue collection. He urged sub-registrars operating within his jurisdiction to ensure that property transactions align with FBR’s valuation table.
Compliance with Tax Regulations
The chief commissioner reiterated that taxes under Section 236C and 236K must be properly collected during the sale and purchase of properties. He stressed the importance of compliance with tax regulations to ensure accurate revenue collection in property transactions.
