The Latest Breaking News from Income Tax

Individual income taxes made up 49% of federal revenue in FY 2023.

For those opting for the new tax regime, the standard deduction for salaried employees to be increased from Rs 50,000 to Rs 75,000. Read further on Dynamite News:

Curious Kids is a series for children of all ages. If you have a question you’d like an expert to answer, send it to curiouskidsus@theconversation.com.

One of the UK’s largest taxpayers, billionaire quant trader Alex Gerko lost a legal dispute with British authorities over the tax treatment of a deferred payment plan. Appeal judges ruled that Gerko and other traders, while they were still running high-frequency trading strategies at GSA Capital Partners between 2010 and…

Party's youth wing will also debate abolishing income tax entirely.

Despite strong year-over-year growth in GMV and revenue, Jumia Technologies (JMIA) incurred a significant loss before income tax due to currency devaluations in its largest markets, impacting purchasing power and supply availability. Given the challenging macro environment in Africa, should you invest in this e-commerce stock? Read more.

Rachel Reeves’ first speech as the UK chancellor highlighted the financial constraints the new Labour government faces. With taxes already at a 70-year high in relation to national income, she repeated the pledge of no increases in national insurance, income tax or VAT.

Irrevocable trusts can be structured so that trust property is either included in the potentially taxable gross estate or removed. What are the pros and cons?

As the deadline for filing Income Tax Returns (ITR) approaches on July 31, it is crucial to be aware of the various exemptions available. One key area where taxpayers can benefit from exemptions is when they have children.

A guest post from Professor Rob Natelson

Soon after winning, Tyler faced challenges like state and federal taxes, entitled cousins wanting their fair share, and whether she should buy a new house.