Don t Panic If Taxes Department Raids You: Difference between revisions

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The term "Raid in Indian Taxes Law" is incredulous and any unexpected encounter with IT sleuths generally inside chaos and vacuity. If you would experience such action it is advisable 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 is the process which authorizes IT department to search any residential / business premises, vehicles and bank lockers etc. and seize the accounts, stocks and valuables.

If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your earnings tax bill is gonna be approximately 3300 dollars.

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