Turnover tax: RTO-II Karachi recovers huge tax demand of Rs 700 million in 2011

Regional Tax Office-II (RTO) Karachi has taken lead in detection of cases and recovery of the turnover tax on the basis of available data of the individuals and AOPs, as the RTO recovered huge tax demand of Rs 700 millions in 193 cases of turnover tax during 2011 under Section 113 of the Income Tax Ordinance, 2001.
Sources told Business Recorder here on Tuesday that during 2012 RTO-II Karachi raised tax demand of Rs 224 million in 159 cases. So far, an amount of Rs 91 million has been recovered from individuals and Association of Persons (AOPs) on account of turnover tax during 2012 while recovery of the remaining Rs 133 million is underway.
Year-wise trend of recovery of turnover tax revealed that the RTO has been actively monitoring the payments of turnover tax during past years. The recovery of tax demand of Rs 700 million by RTO-II Karachi in only one year ie 2011 reflected strict checking of filed returns through desk-audit based on information available with the tax department.
Khawaja Tanveer Ahmad, Chief Commissioner Inland Revenue, Regional Tax Office-II Karachi has shown remarkable performance in monitoring of turnover tax. As far as report of Directorate General of Intelligence and Investigation Inland Revenue (IR) Lahore is concerned, the RTO-II has yet not received any letter of the regional directorate Lahore on turnover tax under section 113 of the Income Tax Ordinance, 2001.