3 Elements Taxes For Online Businesspeople: Difference between revisions

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Latest revision as of 14:07, 22 October 2024

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The employer probably pays the waitress a really small wage, that allowed under many minimum wage laws because he has a job that typically generates tactics. The IRS might therefore believe my tip is paid "for" the employer. But I am under no compulsion to leave the waitress anything. The employer, on the other side hand, is obliged for the services his workers render. That sort of logic don't think the exception under Section 102 can be applied. If the tip is taxable income to the waitress, it is only under the general principle of Section 61.

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

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