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Revision as of 12:55, 21 September 2024

The old adage is crime doesn't pay, only one certainly can wonder sometimes about the precision of it given the number of politicians that normally be counterfeiters! Regardless, the fact the making money from an offence doesn't mean you don't have to pay taxes. Correct. The IRS wants its unfair share of one's ill gotten gains!

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What may be the rate? In the rate or rates enacted by Central Act there are numerous Assessment Years. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable into the tax payer.

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