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The Latest Breaking News from Income Tax

Six-year income tax threshold squeeze to last until 2028, says UK chancellor

Jeremy Hunt clashes with BBC presenter over linking increased mortgage rates to Liz Truss mini-budget

The Guardian - UK

Stealth tax on income will stay until 2028 if Conservatives are re-elected, admits Jeremy Hunt

The Chancellor clashes with Labour’s Rachel Reeves over VAT

Evening Standard

No decision taken on barring Diane Abbott from selection as Labour candidate, says Keir Starmer – as it happened

It comes after former Labour leader Jeremy Corbyn said the party’s treatment of Abbott was ‘a disgrace’

The Guardian - UK

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Suddenly, there’s talk about Labor reforming company tax. What did minister Ed Husic say, and what might actually work?

When politicians talk about business tax reform, and talk about using it to stimulate investment, they are usually referring to one of (or a mix of) three things:

The Conversation

Tax cuts and tourist fees in NZ budget 'clean-up job'

Income tax relief for Kiwis and higher fees for tourists have been revealed in the first budget of New Zealand's coalition government.

AAP

Link your PAN with Aadhaar by May 31 to avoid higher TDS deduction

As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate. Read further on Dynamite News:

Dynamite News

Minister says Tories will pay for pensions policy by clamping down on tax avoidance

Mel Stride says pensioners will pay more income tax under Labour as critics say plan is merely reversal of previous Tory policy

The Guardian - UK

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Pensioners would get a £2.4bn income tax break under the Tories, Sunak to vow

The new ‘triple lock plus’ would ensure pensioners’ tax free allowance rises in line with the highest of earnings, wages or 2.5%.

The Independent UK

Starmer to say he’s ‘changed’ Labour as party rules out raising income tax or NI

Leader targets swing voters in Kent and Essex while shadow chancellor makes vow on taxes and spending

The Guardian - UK

Labour vows no rise in income tax if it wins next election

Rachel Reeves vows no national insurance or income tax hikes if party wins election

Evening Standard

Rachel Reeves says Labour would not return country to austerity

Shadow chancellor rules out income tax and national insurance rises and says manifesto will have no unfunded proposals

The Guardian - UK

Reeves: No income tax or national insurance rises if Labour win General Election

The shadow chancellor also failed to rule out public spending cuts when challenged on her plans.

Evening Standard

Income Tax seize Rs 26 crore cash after raids against Nashik-based jewellers

The Income Tax Department has launched searches on Maharashtra's Nashik-based Surana Jewellers in response to alleged undisclosed transactions by its proprietor. Read further on Dynamite News:

Dynamite News

What is bracket creep?

When you earn more money, bracket creep can push you into a higher tax bracket. This could reduce your actual income due to increased tax liability.

The Street

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Kiplinger

Medicare Tax: Five Things Every Worker Needs to Know

It's important to know how Medicare tax works.

The Hindu

Income Tax Department officer duped of ₹48.9K in online reward points fraud

A 48-year-old IRS officer with the Income Tax Department lost ₹48,902 to an online reward points fraud.

The Hindu

No data loss due to fire at CR building: I-T dept

Income tax department confirms no data loss in fire at CR Building, ITO; mourns loss of official.

The Hindu

Marithibbe Gowda declares personal assets worth ₹4.28 crore

Marithibbe Gowda, a four-time MLC seeking re-election, declares assets worth ₹4.28 crore, with no income tax returns filed.

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news in one place.

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Dynamite News

Delhi: One dead after fire breaks out at CR building in ITO

One person has been killed after a fire broke out on the third floor of the Central Revenue Building located at the Income Tax Office (ITO) area in the national capital on Tuesday. Read further on Dynamite News:

Reason

Brace for Big Tax Hikes in 2026 Unless Congress Acts

The Tax Cuts and Jobs Act expires at the end of 2025, with a high price tag for most Americans.

Kiplinger

File By May 17 for $1 Billion in Unclaimed IRS Tax Refunds

Unclaimed tax refunds from years ago are waiting for millions who might not know it. Are you one of them?

Latin Times

Florida ranks last in teacher pay across U.S.; DeSantis administration calls report 'bogus'

The state's Department of Education claims the report does not consider "cost of living and state income tax"

Dynamite News

CBI arrests income tax official for accepting bribe of Rs 4 lakh in Mumbai

The Central Bureau of Investigation (CBI) has arrested an income tax officer for allegedly accepting a bribe of Rs 4 lakh from an individual in Mumbai, an official release said on Saturday. Read further on Dynamite News:

Kiplinger

Biden's Plans to Impose an Income Tax on Death

The president has proposed a new taxing regime that would make death an income tax realization event for wealthy decedents.

The Hindu

Seizure of ₹1 crore: ‘Money was taken to bank on direction of I-T department’, says CPI(M) Thrissur district secretary

Seizure of ₹1 crore: ‘Money was taken to bank on direction of I-T department’, says CPI(M) Thrissur district secretary M.M. Varghese

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