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Deemed property income: FBR to refund tax collected under Sec 7E
ISLAMABAD: Following serious efforts by the LTBA Public Interest Litigation Committee (LTBA-PILC), the Federal Board of Revenue (FBR) has decided to refund the tax paid/collected on account of deemed income on immovable properties under Section 7E of the Income Tax Ordinance, 2001, according to Waheed Shahzad Butt, the Chairman of the LTBA-PILC. In this regard, a circular has been issued by the FBR. The legal fraternity is thankful to the LTBA-PILC Chairman for this landmark achievement, which will not only facilitate taxpayers but will also save huge exchequer resources that would otherwise h...
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