FBR auctions confiscated immovable properties on Nov 15, 2022

FBR auctions confiscated immovable properties on Nov 15, 2022

Federal Board of Revenue (FBR) has announced to auction immovable properties that are confiscated under Section 138(2) of Income Tax Ordinance, 2001.

The tax collecting wing of the FBR, Regional Tax Office (RTO), Gujranwala to auction the said properties on November 15, 2022.

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In a notice, the RTO said that the following properties have been confiscated by the FBR under Section 138(2) of the Income Tax Ordinance, 2001 and under Rules 158 to 173 of the Income Tax Rules, 2002:

01. Plot No. 33-B, SIE-II, Gujranwala (2 kanal), Ramzan Steel Industries.

02. Plot No. 35-B, SIE-II, Gujranwala (2 kanal), Ramzan Steel Industries.

03. House No. A2-333, WECHS (Wapda Town), Gujranwala (10 Marla).

Terms and conditions for the auctions are:

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01. All interested persons are abide by provisions as envisaged under section 138(2) of the Income Tax Ordinance, 2001 and Rules 158 to 173 of the Income Tax Rules, 2002.

02. All interested persons to participate in the auction are bound to deposit a demand draft of Rs1.25 million in favor of the Commissioner Inland Revenue, Withholding Tax Zone, RTO, Gujranwala (Refundable), in case otherwise, the person will be prohibited.

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03. The successful candidate will bound to deposit the 25 per cent of bids amount at the spot and remaining amount will have to pay within 7 days.

04. The participant in bid, compulsory to obtain NOC from respective authority in respect of these properties.

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05. In case of non-completion process of bid, same will remain continue till the sale of properties.

06. The commissioner Inland Revenue, Withholding Tax, Zone, RTO Gujranwala is fully competent to reject the auction to change the date of auction.

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