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

The Tax Reform Act of 1986 reduced the actual rate to 28%, at the same time raising the underside rate from 11% to 15% (in fact 15% and 28% became discharge two tax brackets).

It has been instructed by CBDT vide letter dated 10.03.2003 that while recording statement during program of search and seizures and survey operations, no attempt end up being made to obtain confession about the undisclosed income. Found on been advised that ought to be focus and attention to collection of evidence for undisclosed sales.

Yes. Revenue based education loan repayment isn't offered internet hosting is student cheap loans. This type of repayment is only offered on the Federal Stafford, Grad Plus and the Perkins Mortgage loans.

There is a fine line between tax evasion and tax avoidance. Tax avoidance is legal while tax evasion is criminal. If you want to pursue advanced tax planning, payments you accomplish that with the advice of a tax professional that intending to defend the process to the Irs.

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