The Latest Breaking News from Income Tax

If you earn a lot of money, you may want to avoid these most expensive states for millionaires. Some high earners in these areas could pay income tax rates greater than 50%.

A business owner learned the hard way (and at great cost) not to dawdle or cut corners when it comes to tax plans involving the sale of a business.

Thinktank says increasing capital gains tax rates to same as employment tax would raise £10bn extra

Marijuana businesses get tax relief in some states to help with their thorny income tax issues.

The interventions of the Bevco officials led by Chairman and Managing Director Yogesh Gupta helped the Corporation in the recovery of the huge amount.

Massachusetts voters approved the Fair Share Amendment in November. It places a 4% tax on incomes above $1 million, in addition to the state's standard income tax of 5%.

While asset allocation helps you diversify your portfolio, you can further boost your net worth by using the tax-efficient strategy of asset location.

Sunil Mathur, 1988 batch IRS officer, takes charge as Principal Chief Commissioner of Income Tax, TN & Puducherry. He holds a B.E. (Civil) from BITS Pilani & Masters in Public Management from Lee Kuan Yew School of Public Policy. He has worked in various capacities in IT Dept. in Gujarat,…

The inherent anxiety and tension remain despite the well-meaning reforms and technological advancements initiated by the Income Tax department.