3 Pieces Of Taxes For Online Business: Difference between revisions

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Revision as of 05:36, 16 October 2024

A credit is allowed for foreign income taxes paid or accrued. The finance is limited to that particular part of Oughout.S. tax due to foreign source income. It isn't refundable, but any excess credit can be carried to other years to reduce tax.

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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 be completed with twenty one months from your end for this financial year when the search was conducted like assessment u/s 153A.

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