Home / Kashmir / Commissioner Income Tax Waseem Altaf has issued Show cause notice to The Guidance House School and College System.

Commissioner Income Tax Waseem Altaf has issued Show cause notice to The Guidance House School and College System.

Mirpur AJK: (From Bilal Rafiq Bilal) Income tax department Azad Kashmir decided to open four years of tax audits of the Guidance House School and College System. The Guidance House School System is earning amassed millions from the school but paying only few hundred thousand to the tax department.
According to The Details Commissioner Income Tax Waseem Altaf has issued notices for the opening of tax audit of 4 years from 2013 to 2016 on complaints received from public. The notice states that The Guidance House School System has showed millions of expenses with the revenue in respect of salaries, rent and other expenses but has not showed any solid proof of the expenses.
In the year 2016, The Guidance House School and College System showed annual income of 62,862,761through its different branches of schools and colleges and showed expenses of 48,649,838 in profit and loss statement but without any proper evidence of these expenses and only paid 4,73691/- to the tax department. Same happened in the year 2015, as it showed its annual income of 55,152,768 and expense of 39,763,455 without any proof of how this money was spend and tax paid to the department of 4,64,143 rupees only. In the year 2014 and 2013 the school administration showed income of 3,214,475 and 2,784,984 respectively.
Commissioner Income Tax has decided to audit the Guidance House School System on not providing any proof of the expenses made by the administration and has issued show cause notice to them. This act of the Commissioner Income Tax is highly regarded by the people as the Guidance house School system is taking a huge amount of money in term of fees and other charges.
Sources quoted that the administration of the school has started to contact high official so the reopening of this audit could be stopped, otherwise the school has to face a major plenty in term of tax fraud. The citizens of Mirpur has appreciated this step from the income tax department stating that the Guidance House School and College System is earning billions from school fees and other expense taken from the students but they are paying a low amount in their tax returns.

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