It starts on the much smaller scale, perhaps with sweets off a counter, but can quickly escalate if not challenged. Some associated with those men (and women) I have worked alongside as Prison Chaplain began their life of crime by pinching sweets.

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And transfer pricing the actual audit, our time became his. Our office staff spent so much time on the audit since he did, bring our books forward, submitting every dang invoice over past few years for his scrutiny.

If any books of accounts, documents, assets found or seized belong for any other person, the concerned AO shall proceed against other person as provided u/s 153A and 153B. The assessment u/s 153C should also be completed with twenty one months around the end within the financial year when the search was conducted like assessment u/s 153A.

B) Interest earned, despite the fact that paid, throughout a bond year, must be accrued at the end of the bond year and reported as taxable income for your calendar year in that your bond year ends.

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