LAHORE, Nov 15 (APP):In an unprecedented exercise of scrutiny of over a dozen major corporate sector companies the Punjab Revenue Authority (PRA) unearths a tax gap of billions.
During the investigation, the PRA discovered difference in actual withheld tax and deposited.
According to PRA spokesperson here on Wednesday, the withholding agents were supposed to deduct due tax against services rendered and deposit the same to the PRA. Upon scrutiny, the amounts deposited differed from those that were withheld. The companies had been asked for reconciliation within a month, otherwise they would be barred from submitting their returns.
