Tax Talks

Overpaid your taxes in AJK? Don’t fret! You might be eligible for a refund. This article details the process, eligibility criteria, and key points to remember for claiming your rightful tax refund from the AJK Inland Revenue Department (AJKIRD).

Step 1: Assess Your Eligibility:

• Check your tax liability by reviewing your previous year’s tax return.
• You’re eligible if you paid more taxes than your actual liability.
• Remember, filing a return is mandatory to claim a refund.

Step 2: File Your Tax Return:

• File your return electronically through the AJKIRD’s online portal or submit a paper return at the relevant tax office.
• Timely filing is crucial; ensure you meet the prescribed deadlines.

Step 3: Review the Assessment Notice:

• After filing, you’ll receive an assessment notice from AJKIRD.
• Carefully review it for accuracy and correctness of your assessed tax liability.
• If there are discrepancies, file a revision petition within 30 days of receiving the notice.

Step 4: Await the Refund Payment Order:

• Once your return is processed and any revisions are finalized, AJKIRD will issue a refund payment order if you’re eligible.
• This order specifies the refund amount and payment details.

Step 5: Collect Your Refund:

• Visit the designated bank with the payment order and a valid ID (CNIC or passport).
• Ensure the bank account details provided for the refund are accurate and active.

Beyond the Steps:

• Claiming Options: Choose between a full refund to your bank or adjusting the excess tax against future liabilities.
• Adjustable Taxes: Understand the difference between adjustable taxes (adjusted within the year or carried forward) and non-adjustable taxes (final or minimum taxes).
• Verification Process: Be prepared to submit additional documents if requested by the tax authorities for verification purposes.

Remember:

• Regularly update yourself on AJK tax regulations for streamlined processing.
• Claiming a refund is your right, but ensure compliance with all regulations.
• Consulting a tax professional can help navigate complexities and maximize your refund potential.

By following these steps and staying informed, you can confidently claim your AJK tax refund and ensure a smooth experience with the AJKIRD.