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The Latest Breaking News from Income Tax

IT department says its searches resulted in seizure of ₹351 crore of unaccounted cash

The Income Tax Department, which had carried out simultaneous searches in Odisha, Jharkhand, and West Bengal in the first week of December, said ‘unaccounted’ cash amounting to more than ₹351 crore was discovered during raid.

The Hindu

Three Ways You Can Cut the Tax Stress of RMDs

You have to take them, but there are strategies you can apply to prevent required minimum distributions (RMDs) from stressing you out in retirement.

Kiplinger

Playwright's words from 2015 perfectly sum up Scotland's economy in the Union

A PLAYWRIGHT’S prophetic words from 2015 are being applauded for perfectly summing-up Scotland’s financial situation within the Union.

The National (Scotland)

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NewsClick claims its bank accounts frozen by I-T Department

Online news portal NewsClick claimed on Tuesday that its bank accounts have been frozen by the Income Tax Department and said it will undertake legal measures against this “unjust and cruel” action.

The Hindu

What do the new tax bands in the Scottish Budget mean for you?

HOW will the Scottish Government's newly proposed income tax bands work?

The National (Scotland)

I-T searches continue at Kadapa factory

Income Tax department raids Shirdi Sai Electricals Limited's factory in Kadapa for 2nd day; company manufactures smart meters, transformers & other electrical equipment.

The Hindu

Income tax band for higher earners introduced during Scottish Budget

THE Scottish Government has announced a new income tax band for higher earners in its annual Budget.

The National (Scotland)

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'Tis the Season for Charitable Giving's Many Benefits

Giving to charity can bring together multiple generations during the holidays to learn about the family’s values. And, of course, there are tax breaks…

Kiplinger

'Bit of a cheek': Rishi Sunak panned for criticising higher taxes in Scotland

RISHI Sunak has a “bit of a cheek” to criticise the prospect of income tax increases in Scotland, according to the Deputy First Minister.

The National (Scotland)

How the Scottish Budget works – and why there's a £1.5 billion shortfall

THE Scottish Budget has a shortfall. In May, Shona Robison, Deputy First Minister and also Finance Secretary, announced that the Scottish Government…

The National (Scotland)

‘Unfair’ council tax should be replaced before income tax is raised, says senior MSP

THE Scottish Government should focus on replacing council tax rather than increasing income tax, a senior SNP backbencher has said.

The National (Scotland)

Ohtani's Dodgers Deal May Dodge California's Sky-High Taxes

Baseball star Shohei Ohtani's 0 million deal with the LA Dodgers could potentially skirt California's high income taxes through strategic planning.

Top News

Shohei Ohtani's contract with the Dodgers could come with bonus of mostly avoiding California taxes

Baseball superstar Shohei Ohtani's new contract could have the added benefit of avoiding most of California's income tax

The Independent UK

Baseball Star Shohei Ohtani's New Contract Is a Massive Tax Avoidance Scheme. Nice!

He could save $98 million by dodging California's state income taxes with his unusual, eye-popping contract.

Reason

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Kiplinger

Michigan Tax Credit Checks: Who Qualifies and What to Expect

Michigan tax credit checks will soon be on the way thanks to a law that becomes effective in early 2024. Will you get one?

The National (Scotland)

FACT CHECK: Ian Murray claims Scots will move to London due to tax rises

“Ian Murray says more Scots will head to London if Humza Yousaf raises taxes” ...

The National (Scotland)

Scottish Government facing £1.5bn black hole as future 'depends on Westminster'

THE Scottish Government is facing a funding black hole of £1.5 billion next year in what experts have described as one of the “most challenging…

The Hindu

Odisha BJP steps up its attack on Naveen Patnaik govt over I-T’s cash seizure

BJP has stepped up its attack on the Odisha government over seizure of over ₹300 crore of cash by the Income Tax department from campuses belonging to liquor manufacturers in the State

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The Hindu

T.N. government adopts 2 modes of payment for Michaung relief

State govt. to give ₹6,000 cash relief to families in Chennai, Kancheepuram, Tiruvallur, and Chengalpattu districts hit by Cyclone Michaung. Cash payment for those affected by cyclone or lost belongings due to inundation. DBT for senior officials, income tax assessees, and sugar-drawal ration card holders. Tokens for payment to be…

Dynamite News

Odisha: IT raid concludes at Congress MP Dheeraj Sahu's Balangir premises

Income tax officials on Tuesday concluded an IT raid at Congress MP Dheeraj Sahu's premises in Odisha's Balangir. Read further on Dynamite News:

Kiplinger

Five Year-End Tax Tips for Freelancers

These tax tips can help avoid IRS audits and possibly have you paying less taxes as a freelancer this year.

Dynamite News

Odisha: I-T raids enter sixth day at the premises linked to Congress MP Dheeraj Sahu

The Income Tax raids entered the sixth day at the premises of Baldev Sahu Infra Pvt Ltd company at Sudpada in Balangir, Odisha. The company is allegedly linked to Congress Rajya Sabha MP Dheeraj Sahu. Read further on Dynamite News:

The Hindu

Income Tax raids: Congress seeks clarification from party MP Dhiraj Sahu

Congress seeks clarification from RS MP Dheeraj Sahu after ₹350 crore in cash from entities linked to his companies is recovered in I-T raids. Congress says it's a personal matter and will not comment until official statement from I-T and related agencies. BJP stages protest, demands Sahu's arrest. Congress MLA…

The Hindu

Cash seizures from entities owned by Congress MP to be more than ₹350 crore

I-T dept. in Odisha seized ₹350 crore cash from distillery units. SBI Balangir branch counted ₹305 crore, Titlagarh ₹11 crore & Sambalpur ₹37.5 crore. This is the highest ever cash seizure in a single case. I-T officials will connect dots to source of cash from distillery promoters. Union Minister Pradhan…

The Hindu

Kishan Reddy questions Congress over I-T seizures in Jharkhand

The Union Minister dubbed Mr. Sahu as “black money, hero” and said the Jhankhand MP is a close confidant of Rahul Gandhi and allegedly supported and fulfilled all the requirements of the Congress leader’s ‘Bharat Jodo yatra’ last year.

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