LAHORE: Federal Bureau of Income (FBR) on Friday launched crackdown in opposition to benami (undeclared) properties and automobiles in Punjab province, ARY NEWS reported.
In keeping with the tax assortment authority, a benami property is one which is a subject of benami transaction and consists of proceeds from such a property.
In keeping with the FBR Inspector Muhammad Waseem, raids have been carried out in Lahore and Faisalabad areas of the province to confiscate undeclared properties and automobiles.
“Properties price Rs 150 million have been confiscated in Faisalabad,” stated the inspector with out elaborating the variety of properties.
He additional stated that three benami automobiles have been additionally recovered from Lahore.
Learn Extra: FBR finds 29 benami properties in KP
On October 18, over 300 individuals have been shortlisted by the FBR in Islamabad, for holding benami (undeclared) properties of over 150 kanal.
As per particulars, the district administration has ready preliminary report through which 300 individuals have been named for holding undeclared properties of over 150 kanal.
Sources aware about the event stated, the main points of the individuals have been forwarded to the Federal Board of Income. The bureau will take motion in opposition to the individuals named within the checklist after investigation of their property and earnings.
The references might be registered in opposition to the individuals, who might be discovered guilt.