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Income taxes are not due for this type of transaction. The person giving the gift may be required to file a gift tax return if the property is valued over the threshold depending on what year the gift was given and recorded. If you sell the property, you will have a reportable income from the sale but at the time you are given the property you will not have to pay income taxes.
1 [(9) If a person required to furnish a return under Chapter V of this Act - (a) fails to furnish any return by the due date; or (b) fails to furnish with a return any other document that is required to be furnished with the return; or (c) being required to revise a return already furnished, fails to furnish the revised return by the due date; the person shall be liable to pay, by way of penalty, a sum of one hundred rupees per day from the day immediately following the due date until the failure is rectified: PROVIDED that the amount of penalty payable under this sub-section shall not exceed ten thousand rupees.] Reply from T.J.SURUTHI.
due date of profennisanal tax return o
Age is NOT one of the requirements of when you must file 1040 federal income tax return. As long as your are still breathing and have the required taxable income amounts you will be required to file a 1040 federal income tax return and pay any income taxes that may be due on the taxable amount of your income.
Yes you would be required to file a 1040 income tax return. A self employed taxpayer would be required to file an income tax return if business operation had a net profit of 400 and pay the social security and Medicare taxes that would be due plus any income tax that may be due after adding the net profit to all other gross income on the 1040 tax form and the amounts would be subject to income tax at the marginal tax rates.
Income taxes are not due for this type of transaction. The person giving the gift may be required to file a gift tax return if the property is valued over the threshold depending on what year the gift was given and recorded. If you sell the property, you will have a reportable income from the sale but at the time you are given the property you will not have to pay income taxes.
Forever. If you don't file (April 15 due date), then you are perpetually open to audit/assesment for that period and your return is always required.
1 [(9) If a person required to furnish a return under Chapter V of this Act - (a) fails to furnish any return by the due date; or (b) fails to furnish with a return any other document that is required to be furnished with the return; or (c) being required to revise a return already furnished, fails to furnish the revised return by the due date; the person shall be liable to pay, by way of penalty, a sum of one hundred rupees per day from the day immediately following the due date until the failure is rectified: PROVIDED that the amount of penalty payable under this sub-section shall not exceed ten thousand rupees.] Reply from T.J.SURUTHI.
due date of profennisanal tax return o
continent. Pangea split into Laurasia and then all our countries slowly split apart due to the tectonic plates
Age is NOT one of the requirements of when you must file 1040 federal income tax return. As long as your are still breathing and have the required taxable income amounts you will be required to file a 1040 federal income tax return and pay any income taxes that may be due on the taxable amount of your income.
Age is NOT one of the requirements of when you must file 1040 federal income tax return. As long as your are still breathing and have the required taxable income amounts you will be required to file a 1040 federal income tax return and pay any income taxes that may be due on the taxable amount of your income.
Yes you would be required to file a 1040 income tax return. A self employed taxpayer would be required to file an income tax return if business operation had a net profit of 400 and pay the social security and Medicare taxes that would be due plus any income tax that may be due after adding the net profit to all other gross income on the 1040 tax form and the amounts would be subject to income tax at the marginal tax rates.
They had different features, economic status and culture. Due to this they split up.
Federal law requires the tax return to be filed by the 15th day of the fourth month after the end of the taxpayer's year. Most individuals are required to calculate their taxes on a calendar year basis; hence, the due date for most returns is April 15.
she may not return due to the extended time she been gone
No. There is a limit of $12,000 annually for a single person to give away as gift. And if any tax is due on the gift, it is paid by person who makes the gift and not the recipient.