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The Latest Breaking News from Income Tax

550,000 more Londoners to be dragged into paying income tax higher rate due to threshold freeze, warn Lib-Dems

Nearly a million more people in the capital and wider South East will also be brought into paying Income Tax by the threshold freeze policy

Evening Standard

Income Tax Department searches property, construction firm premises in Coimbatore, Erode and Namakkal

Income Tax Department conducts searches raids in Coimbatore & Erode, targeting property/real estate & pump manufacturer firms.

The Hindu

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government

Tax collections likely to exceed ₹19 lakh crore in 10 years of Modi-led Government, providing more leeway for people-friendly tax measures.

The Hindu

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Naveen Patnaik govt. to cover 90% of Odisha’s population under cashless care in private hospitals

BSKY will cover the entire population except income tax payees and government employees in the State. Big farmers and people above poverty line (APL), who are not paying income taxes in villages, will be benefited by the announcement.

The Hindu

Only top half of UK earners to benefit from lower NI payments, thinktank warns

Any gains for lower half will be lost when income tax bills rise in April, says Resolution Foundation

The Guardian - UK

Tax Season Is Almost Here: What You Can Do to Prepare

Tax season can be a stressful time, but getting prepared now can help it go more smoothly.

Kiplinger

Taxpayers urged to comply with e-verification scheme

FTCCI & ICAI organise seminar on Income Tax e-verification scheme in Hyderabad with Principal Director General of Income Tax Sunita Bainsla.

The Hindu

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'No evidence' to suggest Scots don't like paying more income tax, says expert

THERE is currently no evidence to suggest people are put off by more income tax bands in Scotland, an expert has told The National.

The National (Scotland)

Architect of SNP Growth Commission speaks out against tax rises

THE architect of the SNP’s economic plans for independence has hit out at the party’s plans to raise income tax on high earners.

The National (Scotland)

IT department says its searches resulted in seizure of ₹351 crore of unaccounted cash

The Income Tax Department, which had carried out simultaneous searches in Odisha, Jharkhand, and West Bengal in the first week of December, said ‘unaccounted’ cash amounting to more than ₹351 crore was discovered during raid.

The Hindu

Three Ways You Can Cut the Tax Stress of RMDs

You have to take them, but there are strategies you can apply to prevent required minimum distributions (RMDs) from stressing you out in retirement.

Kiplinger

Playwright's words from 2015 perfectly sum up Scotland's economy in the Union

A PLAYWRIGHT’S prophetic words from 2015 are being applauded for perfectly summing-up Scotland’s financial situation within the Union.

The National (Scotland)

2024 Retirement And Tax Windfalls: Moves To Maximize Savings

Don't get lost in the maze of retirement and tax planning. This clear and concise guide equips you with the essential strategies for 2024.

Investors Business Daily

NewsClick claims its bank accounts frozen by I-T Department

Online news portal NewsClick claimed on Tuesday that its bank accounts have been frozen by the Income Tax Department and said it will undertake legal measures against this “unjust and cruel” action.

The Hindu

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The National (Scotland)

What do the new tax bands in the Scottish Budget mean for you?

HOW will the Scottish Government's newly proposed income tax bands work?

The Hindu

I-T searches continue at Kadapa factory

Income Tax department raids Shirdi Sai Electricals Limited's factory in Kadapa for 2nd day; company manufactures smart meters, transformers & other electrical equipment.

The National (Scotland)

Income tax band for higher earners introduced during Scottish Budget

THE Scottish Government has announced a new income tax band for higher earners in its annual Budget.

Kiplinger

'Tis the Season for Charitable Giving's Many Benefits

Giving to charity can bring together multiple generations during the holidays to learn about the family’s values. And, of course, there are tax breaks…

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The National (Scotland)

'Bit of a cheek': Rishi Sunak panned for criticising higher taxes in Scotland

RISHI Sunak has a “bit of a cheek” to criticise the prospect of income tax increases in Scotland, according to the Deputy First Minister.

The National (Scotland)

How the Scottish Budget works – and why there's a £1.5 billion shortfall

THE Scottish Budget has a shortfall. In May, Shona Robison, Deputy First Minister and also Finance Secretary, announced that the Scottish Government…

The National (Scotland)

‘Unfair’ council tax should be replaced before income tax is raised, says senior MSP

THE Scottish Government should focus on replacing council tax rather than increasing income tax, a senior SNP backbencher has said.

Top News

Ohtani's Dodgers Deal May Dodge California's Sky-High Taxes

Baseball star Shohei Ohtani's 0 million deal with the LA Dodgers could potentially skirt California's high income taxes through strategic planning.

The Independent UK

Shohei Ohtani's contract with the Dodgers could come with bonus of mostly avoiding California taxes

Baseball superstar Shohei Ohtani's new contract could have the added benefit of avoiding most of California's income tax

Reason

Baseball Star Shohei Ohtani's New Contract Is a Massive Tax Avoidance Scheme. Nice!

He could save $98 million by dodging California's state income taxes with his unusual, eye-popping contract.

Kiplinger

Michigan Tax Credit Checks: Who Qualifies and What to Expect

Michigan tax credit checks will soon be on the way thanks to a law that becomes effective in early 2024. Will you get one?

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