LAHORE – The office of the Income Tax has recovered Rs40 million from defaulters by seizing their bank accounts during a campaign by the Federal Board of Revenue (FBR).
Commissioner Inland Revenue, Zone-I, Regional Tax Office, Mehmood Aslam Lillah said that operation was launched in 35 branches of various banks in Gujranwala, adding that bank accounts of some 86 defaulters were seized and Rs 40 million were forcibly withdrawn from the accounts.
He said that most dues were outstanding in the steel sector which were not being paid despite various notices of recovery, adding that the FBR had extended a special concession to steel melters to pay their taxes at reduced rates vide SRO No.550(1)/2012 dated 23.05.2012, but few taxpayers availed the facility despite waiver of surcharge.
To a question, he said extreme measures of recovery including arrests will be adopted against defaulters, urging them to pay outstanding amounts voluntarily and avail the deadline of three more days in the waiver of penalties by their FBR.