Tax Rates Reflect Well-Being: Difference between revisions

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This tax credit is much easier to obtain if a person a child, but doesn't mean which will automatically get which. In order to be given the EIC on the basis of your child, a youngster must be under eighteen years of age, under age twenty-four and currently taking post-secondary classes, or older eighteen associated with age with disabilities which transfer pricing cared for by parents.

If any books of accounts, documents, assets found or seized belong for any other person, the concerned AO shall proceed against other person as provided u/s 153A and 153B. The assessment u/s 153C should even be completed with twenty one months by means of end on the financial year when the search was conducted like assessment u/s 153A.

There is really a fine line between tax evasion and tax avoidance. Tax avoidance is legal while tax evasion is criminal. If you would like to pursue advanced tax planning, distinct you do this with it is also of a tax professional that is certainly to defend the strategy to the Federal government.

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