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FTO denies tax relief on deemed income from immovable properties
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FTO denies tax relief on deemed income from immovable properties
ISLAMABAD: Federal Tax Ombudsman (FTO) has refused to grant tax relief to the owners of immovable properties in Punjab under SFTO denies tax relief under Section 7E of Income Tax Ordinance, 2001, imposing tax on deemed income from capital assets situated in Pakistan. In this regard, the FTO office has issued an order prior to joining of the new FTO. The issue was raised by leading real estate expert Muhammad Ahsan Malik, before the FTO Office. T…
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