The Latest Breaking News from Income Tax

Communist Party of India (Marxist) [CPI(M)] general secretary Sitaram Yechury has written to Chief Election Commissioner Rajiv Kumar stating that the income tax notice served on the bank account of the party’s Thrissur district committee when the election process has begun is “violative” of a level playing field.

Tax Day means some people need to mail their federal income tax returns.

A day after Income Tax Department Officials raided the Bidar District Central Cooperative (DCC) bank, headed by Forest Minister Eshwar Khandre’s brother Amar Khandre in Bidar, the Minister alleged that the raid was “politically motivated”.

The district election officials have seized ₹1 crore from the house of a panchayat president on Friday night and intimated the Income Tax department about the same

The situation is more dire when you consider how much federal spending is financed by debt.

April 15th, the deadline to file your income taxes, is just around the corner. Filings so far this year are on track with last year's, while the average refund is slightly larger.

Revocable trusts allow the trust maker complete control over the assets and can be quite efficient when it comes to capital gains and income taxes.

Sitaram Yechury complains to Election Commissioner against Income Tax notice to CPI(M) in Kerala, alleging political motivation.

The freezing of the bank account of the CPI(M) Thrissur district committee in Kerala by the Income Tax department was part of “the undemocratic measures” of the BJP government to stifle the Opposition parties and to get the BJP’s candidate elected from the constituency, according to CPI(M)‘s Kerala State secretary…

Lowering your taxable income is the key to paying less to the IRS. Several federal tax credits and deductions can help.

Income Tax department freezes CPI(M) account in Kochi with ₹4.8 crore; officials investigate missing account in annual returns.