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Revision as of 09:16, 2 October 2024
The term "Raid in Indian Income tax Law" is incredulous and any unexpected encounter with IT sleuths generally leads to chaos and vacuity. If you would experience such action it is better to familiarise with the subject, so that, the situation can be faced with confidence and serenity. Tax Raid is conducted with the sole objective to unearth tax avoidance. It's the process which authorizes IT department to find any residential / business premises, vehicles and bank lockers etc. and seize the accounts, stocks and valuables.
The IRS has kicked out its annual report on highly dubious tax scams for 2009. Promoters often make these strategies sound credible, but they only aren't. Should your taxpayer attempts to use among the list of scams, the irs will audit and aggressively attack the taxpayer as well as try in order to identify the promoter for criminal prosecution.
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Julie's total exclusion is $94,079. On her behalf American expat tax return she also gets declare a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. irs.
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