December 27, 2024
Fixed Assets

LTO fails to deduct tax on transfer from CWIP to fixed assets – Business & Finance

LAHORE: The Lahore Tax Office (LTO) failed to deduct tax on transfer from construction work in progress (CWIP) to fixed assets, as no payment was made, said sources. According to details, the Commissioner Inland Revenue (Appeals -l) had deleted the demand regarding non-deduction of tax levied under the heading of transfer from CWIP to fixed

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