The Latest Breaking News from Income Tax

In a continuation of the raids since Thursday, Income Tax (I-T) officials on Sunday searched an apartment in Kethamaranahalli at Rajajinagar belonging to a city-based builder and allegedly recovered cash worth several crores and incriminating documents from him

The Income Tax department has revoked the tax exemption status of four non-government organisations – Oxfam India, CARE India, Legal Initiative for Forest and Environment, and Environics Trust, Newslaundry learned from sources and top officials linked to these organisations. The tax exemption was reportedly revoked about two weeks ago.

A 38-year-old man was caught with 37.772 kilograms of silver at a railway station in the state capital Bhopal. Read further on Dynamite News:

How much will your children — or other heirs — pay when you die? That depends on whether you live in a state with no death tax.

India's direct tax collections rose 21.8%, surpassing over half of Budget estimates. Refunds of up to ₹5,000 not restricted. Tax demands from past being raised, some due to tech shift. 7.27 cr returns filed, 7.15 cr verified. Gross collections up 18%, PIT revenues 29.5%. Net revenues 31.85%.

The federal government taxes unemployment benefits. But is unemployment taxable in your state?

Actor C. Joseph Vijay's writ petition against I-T Dept's ₹1.5cr penalty for not disclosing ₹15cr income adjourned 3 wks. Interim injunction granted to restrain I-T officials from recovering penalty. I-T Dept. filed counter affidavit explaining reasons for penalty. Penalty levied beyond limitation period, judge granted injunction. Search & seizure operation…

Resolution Foundation analysis claims stealth move of freezing tax thresholds will raise £40bn a year

Starting next year, people who want to buy a new or used electric or plug-in hybrid vehicle will be able to get U.S. income tax credits at the time of purchase