Order of Adjustment (U/S 161)
Original price was: Rs. 25,000.Rs. 20,000Current price is: Rs. 20,000.
Required Documents:
- Notice of Adjustment (U/S 161): The official notice issued by the tax authority.
- Previous Tax Returns: Copies of previous tax returns filed.
- Financial Statements: Recent financial statements, including income statements, balance sheets, and cash flow statements.
- Tax Payment Receipts: Proof of tax payments made.
- Correspondence with Tax Authorities: Any correspondence exchanged with tax authorities related to the adjustment.
- Supporting Documents: Any additional documents that support your case, such as contracts, invoices, or bank statements.
Instructions: Email your scanned documents and information to sales@taxasaan.pk or WhatsApp them to 03008362021.
Product Description
Meaning of the Service: An Order of Adjustment (U/S 161) is issued by the tax authorities when discrepancies or adjustments are identified in your tax filings. This order requires you to make necessary adjustments to your tax returns and pay any additional taxes, interest, or penalties owed.
An Order of Adjustment under Section 161 can be issued to individuals, firms, or companies. This section is related to withholding tax under the Income Tax Ordinance, 2001. Section 161 deals with the responsibility of withholding agents (such as employers or others responsible for deducting tax at source) to properly deduct and deposit tax. If they fail to do so, an Order of Adjustment can be issued, requiring the recovery of the tax that was not withheld or deposited. This order applies to any taxpayer, whether they are an individual, firm, or company, who is responsible for withholding tax.
Practical Use Case: The Order of Adjustment is typically issued when the tax authorities find that there have been errors, omissions, or underreporting in your tax filings. This service is essential for individuals and businesses to address and rectify these discrepancies to comply with tax regulations and avoid further penalties.
How It Works:
- Initial Consultation: Our experts will review the Order of Adjustment (U/S 161) and all the provided documents to understand the nature of the adjustments required.
- Document Analysis: We will analyze your previous tax returns, financial statements, and other supporting documents to identify the discrepancies highlighted by the tax authorities.
- Adjustment Calculation: Our team will calculate the necessary adjustments to your tax returns, including any additional taxes, interest, or penalties.
- Revised Tax Filing: We will prepare and submit the revised tax returns to the tax authorities, ensuring compliance with all regulations.
- Follow-Up: Our team will follow up with the tax authorities to ensure that the adjustments are accepted and that your tax status is updated accordingly.
Timeline to Complete the Process: The entire process typically takes 2-4 weeks, depending on the complexity of the case and the responsiveness of the tax authorities.
Benefits for Customers:
- Compliance: Ensure compliance with tax regulations and avoid further penalties or legal actions.
- Expert Guidance: Receive professional assistance from our experienced tax consultants to accurately adjust your tax filings.
- Peace of Mind: Rest assured that your tax matters are being handled efficiently and correctly.
- Time-Saving: Save time and effort by entrusting the adjustment process to our experts.
- Accurate Filings: Ensure that all discrepancies are addressed and your tax filings are accurate, minimizing future risks.
By using our Order of Adjustment (U/S 161) service, you can effectively address tax discrepancies, comply with regulations, and maintain a clean tax record.
