ASSESSMENT PROCEDURE

In the previous chapters, we have discussed the procedure for the calculation of taxable income under different heads of income. We are now fully aware that if a taxpayer receives income from one or more than one sources, how we can calculate the tax payable by him. In this chapter, we shall discuss the procedure adopted by the income tax authorities to collect the revenue from the taxpayer. Moreover, the procedure and rules necessary to be observed by the taxpayer are discussed

CYCLE OF ASSESSMENT

The following are the major stages involved in the cycle of assessment:

1. A person furnishes the return of income.

2. Assessment of the return is made and the tax payable by the person is determined.

3. Payment of tax by the Dfa Ho taxpayer.

4. Recovery of tax from the defaulter taxpayer.

5. Refund of tax.