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Estimate your gross financial. Monitor the tax write-offs that you most likely are able declare. Since many of them are based upon your income it great to prepare yourself. Be sure to review your revenue forecast businesses part of the year to determine whether income could shift 1 tax rate to various other. Plan ways to lower taxable income. For example, check your employer is to be able to issue your bonus at the first of the year instead of year-end or maybe you are self-employed, consider billing client for are employed in January rather than December.

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

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