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The IRS collected $3.4 billion from GlaxoSmithKline for allegedly cheating on its taxes. The government contended that running without shoes evaded taxes by making several inter company transactions to foreign affiliates regarding two of its patents and trademarks on popular drugs it owns. That is known as offshore tax fraud.

What may be the rate? In the rate or rates enacted by Central Act every single Assessment Years. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable towards tax payer.

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