Accountancy Forum

What is the difference between Adjustable and Final discharge in incometax collection??

Dear,

In adjustable system, Tax credit is given in the final return/assessment of income.

Whereas in the final discharge, Tax is deducted at source and statement regarding final taxation is filed under Presumptive Tax Regime.

Regards,

Sheraz Afzal
ACA/FPA/ACIS/ITP

Dear Fellow,

In the adjustable Tax system, Tax Credit is given in the final return of income/ assessment procedure.

Whereas in the Final discharge, Tax is deducted at source and statement of final taxation is filed under Presumptive Tax Regime.

Regards,

Sheraz Afzal
ACA/FPA/ITP/ACIS

Agree