Islamabad, Jan 16: The Federal Board of Revenue (FBR) has unearthed significant financial irregularities amounting to Rs. 231.82 million in the property registration and transfer processes within Faisalabad District.
A two-month audit revealed discrepancies in records managed by sub-registrars.
In light of these findings, the deputy commissioner promptly established a five-member inquiry committee, spearheaded by the additional deputy commissioner for finance and planning.
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The review focused on electronic property registries processed between July 1 and August 31, 2024, drawing data from the Punjab Land Record Authority. The investigation revealed widespread non-compliance with Sections 236C and 236K of the Finance Act 2024, which govern tax collection on property transactions.
Across 1,844 property transactions, the uncollected taxes totaled Rs. 231.82 million. Faisalabad Saddar bore the brunt of the losses, with an estimated Rs. 85.14 million in uncollected taxes, followed by Urban-1 and Urban-2 areas, which accounted for Rs. 62.27 million. Other affected tehsils included Jaranwala, Samundari, Tandianwala, and Chak Jhumra.
Despite issuing recovery notices on October 2, 2024, sub-registrars failed to recover the defaulted amounts. This shortfall has raised alarms within the district’s administrative and financial circles.
Adding to the gravity of the situation is a related property tax scandal involving Rs. 393 million, which came to light earlier and triggered broader investigations into tax irregularities across multiple districts. This series of revelations underscores systemic issues in tax compliance and enforcement, prompting calls for stricter monitoring and accountability measures.
The findings serve as a wake-up call for authorities to address loopholes in tax collection processes and ensure that all responsible parties are held accountable. Such measures are essential to safeguard public revenue and restore trust in the region’s financial governance systems.
