Offshore Business - Pay Low Tax: Difference between revisions
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Revision as of 12:16, 5 March 2025
Leave it to lawyers and authorities to struggle to give a straight factor to this thought! Unfortunately, in order to be qualified to wipe out a tax debt, happen to be five criteria that must be satisfied.
But, it is a shocking very simple fact. You pay less tax on a dollars of earnings and also tax for your last us bucks. Let us assume you are single and your taxable income sums up to $45,000 during 12 months 2010. Then you pay federal tax at the rate of 10 percent on site directories . $8,350 of taxable income. The additional 15% imposed on income between $8,350 and $33,950. 25% is charged on income from $33,950 to $45,000.
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If any books of accounts, documents, assets found or seized belong to the 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 over end on the financial year when the search was conducted like assessment u/s 153A.
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