Income Tax Notice of Discrepancies (U/S 114)
Original price was: Rs. 15,000.Rs. 10,000Current price is: Rs. 10,000.
Required Documents:
- Tax Return: The original or a copy of the most recent tax return filed.
- Notice of Discrepancy: Copy of the notice received from the tax authority.
- Supporting Documentation: Any additional documents relevant to the discrepancies noted (e.g., invoices, bank statements).
- Correspondence Records: Any prior correspondence with the tax authority regarding the discrepancy.
- Identification Proof: Copy of your CNIC or equivalent identification document.
Instructions: Email your scanned documents and information to sales@taxasaan.pk or WhatsApp them to 03008362021.
Product Description
Meaning of the Service: The Notice of Discrepancies (U/S 114) service addresses discrepancies found by the tax authorities between your filed tax return and their records. Section 114 of the Income Tax Ordinance mandates taxpayers to address and resolve these discrepancies to avoid penalties and ensure compliance with tax regulations.
An Income Tax Notice of Discrepancies under Section 114 can be issued to individuals, firms, or companies. Section 114 of the Income Tax Ordinance, 2001, deals with the obligation to file tax returns, and if discrepancies are found in the filed returns, the tax authorities can issue a notice to any taxpayer, regardless of their status as an individual, firm, or company.
Practical Use Case: If you receive a notice from the tax authority indicating discrepancies between your tax return and their records, this service is designed to help you resolve these issues efficiently. It is crucial for taxpayers who want to rectify errors and ensure their tax filings are accurate and complete.
How It Works:
- Document Collection: Gather all necessary documents and information as listed above.
- Submission: Send the documents to us via email or WhatsApp as per the instructions.
- Review and Analysis: Our experts will review the notice and your submitted documents to identify the discrepancies.
- Resolution: We will prepare a response and work with the tax authority to resolve the discrepancies.
- Finalization: Once the issue is resolved, we will provide you with confirmation and any necessary follow-up actions.
Timeline to Complete the Process: The process typically takes 15-20 business days from the date of receiving all required documents. This timeline may vary based on the complexity of the discrepancies and the responsiveness of the tax authority.
Benefits:
- Expert Assistance: Access professional guidance to navigate and resolve tax discrepancies.
- Compliance Assurance: Ensure that your tax filings are accurate and compliant with legal requirements.
- Avoid Penalties: Address discrepancies promptly to avoid potential penalties and additional charges.
- Stress Reduction: Reduce the stress and complexity of handling tax issues on your own with expert support.
By using our Notice of Discrepancies (U/S 114) service, you ensure that your tax records are accurate and in compliance, safeguarding against potential legal and financial repercussions.
