Punjab Revenue Authority has initiated action against non-filer restaurants. In the first phase, the Punjab Revenue Authority has issued notices to 500 non-filer restaurants and directed them to submit returns.
PRA has given 15 days to all non-filer restaurants to file returns. The PRA has indicated that if all the restaurants do not file returns within the stipulated time, legal action will be taken against them.
On the other hand, the FBR has completely abolished the 5% holding income tax imposed on all functions, including marriage. Now you will not have to pay a holding tax on booking of wedding halls and lawns etc. for other functions including the wedding.
Similarly, filer parents who have paid more than Rs 200,000 in educational institutions have also been exempted from income tax. Non-filer parents who pay fees in excess of Rs. 200,000 per annum have not been given exemption from holding tax.
Extracted from City42 News