KARACHI: Provincial motor or immovable property registration authorities will liable to pay penalty around three percent of the value in case of processing registration request by non-filers of income tax return.
According to updated Income Tax Ordinance, 2001 issued by the Federal Board of Revenue (FBR), the government imposed restriction on registration of motor vehicle and immovable properties by non-filers under Section 227C.
A penalty of three percent of the value of motor vehicle or immovable property is liable to pay:
i. Where any registering authority of Excise and Taxation Department accepts, processes or registers any application for registration of a locally manufactured motor vehicle or for the first registration of an imported vehicle in violation of the provisions of clause (a) of section 227C.
ii. Where any authority responsible for registering, recording or attesting the transfer of immovable property accepts or processes the registration or attestation of such property in violation of the provisions of clause (b) of section 227C.
Similarly car manufacturers are also liable to pay penalty in case of selling motor car to non-filer of income tax return.
A car manufacturer is liable to pay penalty of five percent of the value of the motor vehicle:
Where any manufacturer of a motor vehicle accepts or processes any application for booking or purchase of a locally manufactured motor vehicle in violation of the provisions of clause (a) of section 227C.