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Revision as of 19:47, 22 September 2024

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3 A 3. All individuals to pay for tax @ 15.00 % of earnings transfer pricing over first Rs. 4,00,000/-. No slabs, no deductions, no exemptions, no incentives and no allowances.No distinction in kind and income.

Structured Entity Tax Credit - The government is attacking an inventive scheme involving state conservation tax loans. The strategy works by having people set up partnerships that invest in state conservation credits. The credits are eventually burnt up and a K-1 is disseminated to the partners who then consider the credits on their personal head back. The IRS is arguing that you cannot find any legitimate business purpose for that partnership, so that the strategy fraudulent.

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