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

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But, right here is the shocking easy fact. You pay less tax on the initial dollars of earnings plus more ! tax on your private last rupees. Let us assume you are single and your taxable income sums up to $45,000 during of this year. Then you pay federal tax in the rate of 10 percent on extremely $8,350 of taxable income. The opposite 15% imposed on income between $8,350 and $33,950. 25% is charged on income from $33,950 to $45,000.

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