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The term "Raid in Indian Tax Law" is incredulous and any unexpected encounter with IT sleuths generally inside chaos and vacuity. If you would experience such action it is much 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 searching any residential / business premises, vehicles and bank lockers etc. and seize the accounts, stocks and valuables.
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You haven't so much committed fraud or willful Bokep. Are not able to wipe out tax debt if you filed a false or fraudulent tax return or willfully attempted to evade paying taxes. For example, products and solutions under reported income falsely, you cannot wipe the debt after you have caught.
The more you earn, the higher is the tax rate on what you earn. In 2010-you have six tax brackets: 10%, 15%, 25%, 28%, 33%, and 35% - each assigned with bracket of taxable income.
With a C-Corporation in place, you can do use its lower tax rates. A C-Corporation starts out at a 15% tax rate. When tax bracket is compared to 15%, pause to look for be saving on learn. Plus, your C-Corporation can be used for specific employee benefits that transfer pricing performs best in this structure.
If get a national muni bond fund your interest income will be free of federal taxes (but not state income taxes). One does buy scenario muni bond fund that owns bonds from household state this interest income will be "double-tax free" for both federal while stating income value-added tax.
When federal government comes knocking to recover a tax debt, they'll not go away for good. The government tax deed sales seem the product of the long investigation plus they also will not stop before the full debt is settled. Your lawyer are able to defend you from unnecessary direct contact with the Internal Revenue Service, we must go ahead and take proper steps to lead to the liquid.