Gujarat High Court held that since for the year under consideration, there is no retention of income but in fact there is a deficit of 7%, hence the question of denying the exemption under section 11 ...

ITAT Mumbai restored exemption under section 11(1)(a) despite a clerical mistake in Form 10B. The original form was timely filed, and the revised form only corrected the error, ensuring the trust’s ...

The Chancellor must plug a £50bn black hole in the nation’s public finances, with at least a 2p hike to the basic rate of income tax likely to be needed, a major economic think tank has warned. The ...

WASHINGTON (Gray DC) - A group of Democratic lawmakers is taking on the ultra-wealthy, proposing a bill that would require them to pay what they owe. Senate Finance Committee Ranking Member Sen. Ron ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

Understanding Forms 15CA and 15CB is crucial for anyone making payments to non-residents under the Indian Income Tax Act. These forms are designed to ensure that the correct amount of tax is deducted ...

“Interest earned from a savings account is taxable under the Income Tax Act. However, individuals and HUFs can claim a deduction of up to ₹10,000 in a financial year under Section 80TTA. If the ...

ATLANTA (AP) — As the 2026 election looms, Georgia Republicans seeking higher office met Tuesday to begin exploring plans to eliminate the state's personal income tax. The Republican contenders for ...

Following the passage of the New Income Tax Bill, 2025, Finance Minister Nirmala Sitharaman outlined key amendments to the existing Income Tax Act, 1961 in the Rajya Sabha. The changes include: tax ...

A wife managed to win an income tax case in ITAT Mumbai, even after selling two house properties gifted by her husband in Mumbai for Rs 6 crore without paying any income tax. These properties were ...

The reporting threshold for Form 1099-MISC will increase from $600 to $2,000, effective as of the 2026 tax year (the forms you’ll receive in 2027). For tax years beginning in 2027 and after, the ...

Part of the problem is that the IRS exclusion hasn’t been updated since 1997. Over that time, national home prices have surged more than 260%. In a state like Utah, where appreciation has outpaced ...