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

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The most straight forward way is actually file a great form plenty of time during the tax year for postponement of filing that current year until a full tax year (usually calendar) has been finished in an external country the taxpayers principle place of residency. Professionals typical because one transfers overseas your past middle regarding your tax month. That year's tax return would basically be due in January following completion of the next 365 day abroad after your year of transfer.

Bottom Line: The IRS doesn't treasure your social status. The internal revenue service only likes you one thing- getting funds. You may have dodged the government for now, but exactly like they captivated to Wesley Snipes- they'll catch as many as you. Don't hesitate in settling your Tax Debts!

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