ISLAMABAD: Federal Council of Income (FBR) selected case of host Imran Riaz Khan asks for income tax check.
Document available with this scribe states that Tax Area-II Commissioner Noman Malik served notice on Imran Riaz Khan with attitude to selection of case for audit n/a 177 of Income Tax Ordinance, 2001 for tax year 2020.
“You have filed a declaration of total income for in year on income declaration certificate of 15.5 million rupees and your file for 2020 tax year selected for audit of your income tax affairs n/s 177 of Income Tax Ordinance 2001 for for the following reasons,” the notice says.
It’s further says that, according to the Statement of Status, the anchor person has declared liabilities in the amount of Rs. 25.4 million
“Be it said amount was received on a cross check or does not need verification in view of provisions of Section 39(3) and 34(5) of in of Income Tax Ordinance. 2001,” the statement said.
The notice states that Khan declared a residential property However, “Plot No. 65 Millat Tractor Workers Society – Residential Plot 2 / Canals Lahore” in the amount of Rs 36.5 million, however, in tax year In 2021, he announced “65, 66 Millat Tractor Housing Society in Lahore – residential building built” at a price of Rs. 32.5 million
“Obviously, despite the addition in property No. 66 and cost of construction, calculation of in property was reduced. This aspect needs to be checked u/s 111 of Income Tax Ordinance 2001 for concealment of cost and construction costs,” the notice says.
The notice states that Khan added 72 channels of agricultural land located in Sheikhupura district “Moza Ratni Val Tehsil Ferozewala” worth Rs 7.4 million.
“It is necessary to check whether the indicated agricultural property announced in cost in conformity with with respect to Article 76 of Income Tax Ordinance. 2001″.
“You have declared agricultural land, but the agricultural income has not been declared. for in year what needs to be checked,” the notice says.
“Deputy Commissioner of Internal Revenue concerned will contact you for conducting the Audit by May 15, 2022 and we look forward to your full cooperation with revision production. Rest assured that if no discrepancies are found, the audit proceedings will be terminated without hesitation,” the notice reads. added.
When contacted, Imran Riaz Khan said that he had not received the notification yet as it could have been sent to his old address.
“My address updated in My ID card,” is he added.