The Federal Board of Revenue (FBR) has initiated a survey of schools and other educational institutions to check their registration with the income tax department.
As per the details, the Regional Tax Office (RTO)-II Karachi has chalked out the strategy for educational institutions for the rest of the current fiscal year.
The tax office has designated special teams to visit the schools, Montessori/pre-schools, educational/tuition centers, and college to check their tax status. The designated teams have been scheduled to start visits from March 4, 2019.
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According to the sources, several schools have been collecting hefty amounts as fee without declaring their income. Moreover, the authorities have decided for the first time to check private tuition centers for their income.
The Montessori schools are also charging a huge fee to the parents, but their contribution to the tax net is minimal. Therefore, the FBR has also decided to acquire details of the fee structure of schools from the provincial education department to verify the amount charged as the fee to the parents.
The board will also urge the parents to identify schools that are not complying with the tax laws. It will also urge the parents to adjust or claim a refund against the tax withheld on payment of education fee.
Via: News
