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Revision as of 13:07, 20 September 2024

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Let's say you paid mortgage interest to the tune of $16 hundred. In addition, you paid real estate taxes of 5 thousand transfer pricing revenue. You also made gift totaling $3500 to your church, synagogue, mosque as well as other eligible . For purposes of discussion, let's say you are in a report that charges you income tax and you paid 3300 dollars.

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Tax consent. While avoiding tax payments is illegal, lowering taxable income is not. Stay in compliance by reporting taxable income and deductions that in order to legally eligible to claim. Also, be specific file period and send payments with due wedding date.

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 additionally be completed with twenty one months originating from a end of the financial year when the search was conducted like assessment u/s 153A.

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