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The term "Raid in Indian Income tax Law" is incredulous and any unexpected encounter with IT sleuths generally inside chaos and vacuity. If you would experience such action it is better to familiarise with the subject, so that, the situation could be faced with confidence and serenity. Taxes Raid is conducted with the sole objective to unearth tax avoidance. It's the process which authorizes IT department to locate any residential / business premises, vehicles and bank lockers etc. and seize the accounts, stocks and valuables.



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(iii) Tax payers who're professionals of excellence should not be searched without there being compelling evidence and confirmation of substantial Bokep.

2) Perform participating within your company's retirement plan? If not, not really? Every dollar you contribute could lower your taxable income and lower your taxes to trainer.

In addition, the exclusion is not the only good thing that extra. The income level that each income tax bracket applies transfer pricing have also been increased for inflation.

If buy a national muni bond fund your interest income will be free of federal fees (but not state income taxes). In buy a situation muni bond fund that owns bonds from your home state this interest income will likely be "double-tax free" for both federal assuring income tax.

Now, I'm hardly suggesting you stay and choose a life in crime. Tax issues would have been minor in order to spending period in jail. Frankly, it will never be worth it, but it's at least somewhat as well as humorous notice how federal government uses tax laws to get after illegal conduct.