Regional Tax Office-III (RTO-III), Karachi has collected rupees 20 billion under the head of income tax up to January 24, against a monthly target of rupees 19.19 billion.
According to a provisional statistics, the RTO-III, Karachi has been assigned an annual income tax target of rupees 40.2 billion, out of which, rupees 20 billion has already been achieved and the department is leading towards the rest of the target, which would also be achieved through effective monitoring of withholding agents particularly of statuary bodies, liquidation of current and arrear tax demands, creation of tax demands through audit, effective monitoring of advance taxes and broadening of tax base measures.
The Regional Withholding Unit (RWU) in RTO-III has made significant contribution in adding to overall revenue collection. Payments amounting to rupees 520 million, through facilitation in issuance of NTN to major withholding agents, have been enforced. RWU has played a pivotal role in enforcing e-filing of returns and statements from statutory bodies and corporate entities.
RTO-III Karachi has also brought 130,199 new taxpayers on tax roll, thus exceeding its assigned target of 127,500 well before close of the fiscal year. These new taxpayers have been registered on tax roll by utilising data obtained from concerned quarters of major share holders, owners of luxurious vehicles and properties.
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