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The Latest Breaking News from Income Tax

Cost of living: How renters can avail of €1,000 using rent tax credit

Thousands of renters are missing out on €1,000 as only 22,000 people have claimed the rent tax credit this year

Dublin Live

More than 20,000 people support new proposals to pay mortgage through their wages before any deductions

The payments would come off before any tax or National Insurance was deducted, similar to workplace pensions.

Daily Record

New Mexico Rebate Checks Up to $1,000 Coming in June

New Mexico rebate checks will be sent soon. Here's what you should know.

Kiplinger

From analysis to the latest developments in health,
read the most diverse news in one place.

Retirement Planning with Life Insurance

An indexed universal life insurance policy can help you with tax mitigation and extra retirement income in addition to death benefits for your beneficiaries.

Kiplinger

What It Really Costs to Be Middle-Class

Is being middle-class worth it? You be the judge, but here’s what the numbers say.

Kiplinger

States With Low and No Capital Gains Tax

Low-tax states, including states with no capital gains tax, are selling points for many people lately.

Kiplinger

8 persons arrested for ‘deliberate’ attack on Income Tax officials

The Director of Income Tax (investigation) Sivasankaran on Sunday, May 28, said the attack on I-T Department officials, allegedly by the DMK workers and the supporters of Minister for Electricity, Excise and Prohibition V. Senthilbalaji in Karur two days ago, was “deliberate”. The I-T Department officials would not be scared…

The Hindu

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I-T department to conduct scrutiny where assessees failed to respond to taxmen's notices

The Income Tax department has come out with guidelines for selection of cases for scrutiny, under which cases wherein assessees have not responded to I-T notices will be picked up for compulsory examination

The Hindu

Income Tax officials face attack during searches on the premises of Senthilbalaji’s brother

Four senior I-T officials, including Inspector of Income Tax Gayathiri, were admitted to the Government Medical College Hospital in Karur.

The Hindu

No Income Tax searches at my home, says Tamil Nadu Minister Senthilbalaji

Tamil Nadu Minister for Electricity and Prohibition V. Senthilbalaji said on Friday that the Income Tax Department had not conducted any search at his house. The houses and premises of his friends and relatives were searched, and they would extend cooperation to officials, he said

The Hindu

Annamalai condemns attack on Income Tax officials

Tamil Nadu BJP president K. Annamalai condemned the threatening of Income Tax officials and attack on their vehicles by DMK cadres when the officials had come to search premises premised linked to Tamil Nadu Minister for Electricity, Excise and Prohibition V. Senthilbalaji on Friday.

The Hindu

DMK slams BJP over I-T searches in premises of individuals linked to T.N. Minister Senthilbalaji

The DMK in Tamil Nadu alleged the BJP is using central agencies such as the Income Tax department to “avenge” opposition parties, after the premises of people close to TN Minister Senthil Balaji were raided

The Hindu

I-T assessment transfer to Central Circle | Delhi High Court dismisses pleas of Congress leaders Sonia Gandhi, Rahul, Priyanka

The Delhi High Court dismissed petitions by Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra against the Income Tax Department’s decision to transfer their assessments to the Central Circle instead of an ordinary assessment in a matter related to arms dealer Sanjay Bhandari.

The Hindu

Fuel dealers in Punjab says facing ‘difficult situation’ similar to 2016 due to withdrawal of ₹2000

After the Reserve Bank of India (RBI) announced the withdrawal of ₹2,000 banknotes from circulation in pursuance of its ‘Clean Note Policy’, the fuel dealers in Punjab on Thursday said they were facing a “difficult situation” similar to the year 2016, when demonetisation was implemented.

The Hindu

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Daily Record

New proposals for people to pay mortgage through wages before tax deductions due official response

A petition calling for the change has received more than 19,500 signatures of support.

The Hindu

Income Tax Dept enables online filing of Income Tax Returns 1, 4

The Income Tax department has enabled online filing of Income Tax Returns (ITRs) 1 and 4, filed by individuals, professionals and small businesses, for 2022-23 fiscal

Newslaundry

Is India stalling visa renewal for two Sri Lankan journalists with BBC in Delhi?

Following the Income Tax department’s “surveys” of BBC’s offices in India in February, two foreign journalists with the BBC have found themselves in a quandary in Delhi.

The Independent UK

Inflation-hit households ‘typically needed £5,455 extra over past two years’

Households should not be afraid to reach out and ask for help, according to interactive investor, which made the calculations.

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Daily Record

New calls to allow people to pay mortgage through their wages before tax and National Insurance deductions

Paying for things through your company payroll using your pre-tax salary is known as ‘salary sacrifice’.

The Hindu

Fuel outlets and restaurants in Chennai refuse to take ₹2,000 notes

According to stakeholders, many have begun to panic since they experienced harassment from Income Tax officials after the demonitisation exercise of November 2016

The Hindu

₹2,000 notes withdrawn: LPG agencies, petrol bunks to play safe after facing heat from I-T dept.

LPG agencies, petrol bunks to play safe after facing heat from I-T dept.

Kiplinger

States Where You’ll Pay Less Income Tax in 2023

Many states have lowered personal income tax rates for this year. Do you live in one?

Chicago Sun-Times

Ex-Washington Federal bank employee cuts deal with feds, expected to testify

The failure of Washington Federal Bank for Savings has led to criminal charges against 16 people. Among them: former Ald. Patrick Daley Thompson, who was convicted lst year of lying to regulators and filing false income-tax returns.

Reuters

Brazil's government eyes tax tweaks to boost revenue -sources

Brazil's Finance Ministry is preparing a new set of initiatives to increase tax revenue, including a review of deductions and exemptions for income tax on individuals, according to three sources familiar with the matter.

The Independent UK

How much extra income tax you’ll pay by 2027 due to frozen thresholds

Think tank says millions of workers will be dragged into higher rate of income tax by 2027

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