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Revision as of 08:26, 14 August 2026


You tough every day and dolls tax season has come and it looks like you will not get high of a refund again this year. This could often be a good thing though.read through to.

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What is the rate? At the rate or rates enacted by Central Act respectable Assessment Entire year. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable towards the tax payer.

But your employer even offers to pay 7.65% with the items income he pays you for your Social Security and Medicare insurance. Most employees are unaware of this extra tax money your employer is paying for. So, between you in addition employer, federal government takes 14 transfer pricing .3% (= 2 times 7.65%) of one's income. When you are self-employed you pay the whole 15.3%.

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

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