176(1) (Notice to obtain information or evidence) What should do?
176(1) (Notice to obtain information or evidence) In this notice Please refer to the subject cited above.During the Desk Audit it has been noticed that you have adjusted refund claim of previous years against tax liability of tax year 2020.You are requested to provide proof/documentary evidence that tax was deposited in government exchequer against which you have claimed adjustment in tax year 2020.
In case of failure to furnish the requisite proof/documentary evidence the same shall be disallowed and subsequently recovered under the law.
Reason of Receiving 176(1) (Notice to obtain information or evidence)
If you have adjusted last year tax refund to next year they will ask you proof of taxes which you paid that you are claiming.
What should you do ?
If you received 176(1) (Notice to obtain information or evidence) then yoou should reply within due date with proper evidence.
Non Compliance of Notice
They will give you three opportunities every fifteen days non-Compliance of 176(1) (Notice to obtain information or evidence) may face demand notice and after tax recovery
if you need any help for the compliance of 176(1) (Notice to obtain information or evidence) feel free to contact us
122(9) (Notice to amend assessment) from FBR
122(9) (Notice to amend assessment) from FBR
122(9) (Notice to amend assessment) from FBR where you have mentiond Proceedings are being initiated against you on account of definite information u/s 122(5) received from Directorate of Intelligence & Investigation regarding purchase of property amounting to Rs.13,010,000/- during the tax year 2022
You have declared nil income whereas you made investment to purchase aforementioned property amounting to Rs. 13,010,000/- and have paid advance tax thereon u/s 236k amounting to Rs.260,200/- which you have failed to declare in your wealth statement for the tax year under consideration. The income declared does not commensurate with such a huge investment.
You are therefore given the opportunity to show cause u/s 122(9) read with section 122(5) as why the investment made to purchase the property amounting to Rs. 13,010,000/- may not be considered concealed income and may not be added in your total income under section 111(1)(b) of the Income Tax Ordinance, being income from “other sources”
This will also render you liable to the penalty of 100% of the amount of tax sought to be evaded u/s 182 of the Ordinance.
You are required to provide the following documents:
- All bank account statements from 01.07.2021 to 30.06.2022.
- Sale/ purchase agreement of the property purchased
- Source of investment made to purchase the property
- Any Other documents relevant to your case
The reply substantiated by the documentary evidence should reach the office of the undersigned by the due date. In case of failure the same shall be considered as concealed income under section 111(1) (b) of the ordinance 2001 and the assessment u/s 120 will be amended accordingly u/s 122(1).
Reason for received 122(9) (Notice to amend assessment) from FBR
During the filing of tax return either you missed to mention the taxes in 236k section or you missed to add this
property.
When you will receive 122(9) (Notice to amend assessment) from FBR
Before the finalizing of assessment the officer will give you opportunity to provide written proper response.
What you do if you received 122(9) (Notice to amend assessment) from FBR
When you received 122(9) (Notice to amend assessment) from FBR then within due date you should proper reply this notice with evidence in attachment portion. If you cannot reply hire a tax advisor who will give proper reply.
If you not reply received 122(9) (Notice to amend assessment) from FBR within due date then what will happen ?
Fbr will give you three opportunity of clear 15 days should be offer to the assesses before making assessment.
What If no compliance Made of received 122(9) (Notice to amend assessment) from FBR?
If no reply on time after given three opportunities they will send you demand notice.You may file appeal within thirty days after the reciving of demand notice
Contact us for replying of 122(9) (Notice to amend assessment)
Collection of Duties/Taxes on 23rd, 30th & 31″ December, 2023
FBR field formations, the State Bank of Pakistan, and National Bank will remain open until 10 pm on December 31st