KARACHI: Federal Board of Revenue (FBR) has said that non-filers of income tax return are required to pay up to Rs300,000 for ownership transfer of motor vehicles above 3,000CC engine capacity.
The FBR issued Withholding Tax Card 2017/2018 and said that under Section 231B(2) motor vehicle registration authority shall collect withholding tax from person transferring the ownership/registration at the time of transfer.
The rate of tax under sub-section 2 of Section 231B shall be as follows:
|Up to 850CC||0||Rs5,000|
|851CC to 1,000CC||Rs5,000||Rs15,000|
|1,001CC to 1,300CC||Rs7,500||Rs25,000|
|1,301CC to 1,600CC||Rs12,500||Rs65,000|
|1,601CC to 1,800CC||Rs18,750||Rs100,000|
|1,801CC to 2,000CC||Rs25,000||Rs135,000|
|2,001CC to 2,500CC||Rs37,500||Rs200,000|
|2,501CC to 3,000CC||Rs50,000||Rs270,000|