The Latest Breaking News from Income Tax

Judges have described it as “gibberish”, “obvious nonsense”, “largely incoherent, if not incomprehensible” and “gobbledygook”.

Federal revenues dropped by nearly $600 billion from 2022 to 2023 after growing from 2020 to 2022.

Series I bonds are a popular investment that can help you save on taxes, but the federal income tax consequences can be complex.

The Election Commission of India has set up a 24x7 control room in Hyderabad to monitor the seizures and to address grievances. Enforcement of poll code disrupts businesses in Telangana; ₹340.11 crore seized incl. gold, cash, liquor.

Australia should consider revenue raising options that are less vulnerable to an ageing population than income tax, the OECD says.

ED probes money laundering angle in alleged Custom Rice Milling Scam in Chhattisgarh, claims ₹175 crore bribes generated for 'higher powers'. Ex-MD of MARKFED and office-bearer of local rice millers' association accused of increasing special incentive from ₹40 to ₹120 per quintal, collecting kickbacks of ₹175 Crore. ED conducted search…

Japan’s Prime Minister Fumio Kishida says he is preparing to take bold economic measures, including an income tax cut for households hit by inflation and tax breaks for companies to promote investment

The threshold for paying the 40 per cent higher rate of income tax could be raised in the 2024 spring budget, according to one report

The threshold for paying the 40 per cent higher rate of income tax could be raised in the 2024 spring budget, according to one report

Frozen income tax thresholds combined with significant state pension rises may push more pensioners into paying tax, LCP said.

The case under the Prevention of Corruption Act was registered by the CBI following the findings of separate investigations conducted by the Income Tax Department and the Enforcement Directorate.