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Q.9 When intending to point out that refund in the preceding fiscal 12 months must be multiple lakh, would the limit be calculated for all refunds taken together?
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“The Fourth Modification as well as the forfeiture legal guidelines involve the opposite — that you've the evidence to start with, and then you can just take assets.”
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India has really very low fees of tax when compared to a number of other nations around the world. The tax-to-GDP ratio - how much tax is lifted to be a proportion on the output in the financial state - was seventeen% in 2013.
What is more, India is overwhelmingly a cash economy, with 90% of all transactions occurring this way.
Ans. The Restrict of 1% is around the output tax liability only. Reverse charge payments can not be considered as payment of output taxes. Thus, the limit of 1% will exclude the portion of taxes that has been paid less than reverse demand.
♦ In case you are a real tax payer You'll be able to utilize on the commissioner or authorised officer with
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“This warrant won't authorize a prison search or seizure on the contents of the security deposit boxes,” Kim’s March seventeen seizure warrant declared.