How Does Tax Relief Work: Difference between revisions

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Revision as of 20:57, 4 October 2024

The IRS has set many tax deductions and benefits secured for individuals. Unfortunately, some taxpayers who are earning a great deal of income can see these benefits phased out as their income ascends.

If you add a C-Corporation with a business structure you can help to your taxable income and therefore be qualified for those types of deductions for which your current income as well high. Remember, a C-Corporation is a individual taxpayer.

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

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