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Latest revision as of 09:49, 9 September 2026

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Then the state comes back, asking the tax payer to settle the hole. It is unfair, it is unjust, and people revolt. If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your income tax bill is most likely to be approximately three thousand dollars. 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.

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It's far better to gird your loins as well as obtain out your chequebook.

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