Order of Reassessment (U/S 122(5))
Original price was: Rs. 20,000.Rs. 15,000Current price is: Rs. 15,000.
Required Documents:
- Notice of Reassessment (U/S 122(5)): The official notice received from the tax authorities.
- Previous Tax Returns: Copies of the tax returns for the relevant assessment years.
- Assessment Order: The original assessment order issued by the tax authorities.
- Financial Statements: Financial statements for the relevant periods.
- Bank Statements: Bank statements for the periods under reassessment.
- Supporting Documents: Any documents that support your case, such as receipts, invoices, and other financial records.
- Correspondence with Tax Authorities: Any prior correspondence with tax authorities related to the reassessment.
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 Reassessment (U/S 122(5)) is issued when the tax authorities believe that income has either been under-assessed, excessive relief has been allowed, or excessive loss has been carried forward. This service assists taxpayers in responding to such notices by preparing and filing the necessary documentation to contest or comply with the reassessment.
An Order of Reassessment under Section 122(5) can be issued to individuals, firms, or companies. This section is related to income tax under the Income Tax Ordinance, 2001. It allows tax authorities to amend or reassess an income tax assessment if they believe the original assessment was incorrect, incomplete, or based on incorrect information. The order applies to all types of taxpayers, including individuals, firms, and companies.
Practical Use Case: The Order of Reassessment is utilized when a taxpayer receives a notice indicating that their previous tax assessments will be re-evaluated. This service is essential for those who need to address the tax authorities’ concerns, correct any discrepancies, or dispute the reassessment findings.
How It Works:
- Initial Consultation: Our tax experts will review the Notice of Reassessment and all provided documents to understand the specifics of your case.
- Document Analysis: We will analyze your previous tax returns, assessment order, and supporting documents to build a robust response.
- Reassessment Preparation: Our team will prepare all necessary documents and legal arguments required to address the reassessment.
- Submission of Response: We will submit a detailed response to the tax authorities, including all relevant documentation and explanations.
- Representation: Our professionals will represent you in any discussions or hearings with the tax authorities, advocating on your behalf.
- Follow-Up: We will follow up with the tax authorities to ensure your reassessment is processed and resolved in a timely manner.
Timeline to Complete the Process: The process typically takes 6-10 weeks, depending on the complexity of the case and the responsiveness of the tax authorities.
Benefits for Customers:
- Expert Guidance: Benefit from the expertise of our tax consultants who will guide you through the reassessment process.
- Accurate Response: Ensure that your response to the reassessment notice is accurate and comprehensive.
- Time and Stress Saving: Save time and reduce stress by allowing our professionals to handle the reassessment process.
- Compliance Assurance: Ensure that you are in full compliance with tax regulations while addressing the reassessment.
- Maximized Outcomes: Increase your chances of a favorable outcome by presenting a well-prepared and documented case.
By using our Order of Reassessment (U/S 122(5)) service, you can effectively respond to reassessment notices, correct any discrepancies, and ensure compliance with tax regulations, all while minimizing stress and maximizing your chances of a favorable outcome.
