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The Latest Breaking News from Income Tax

Scottish Government facing £1.5bn black hole as future 'depends on Westminster'

THE Scottish Government is facing a funding black hole of £1.5 billion next year in what experts have described as one of the “most challenging…

The National (Scotland)

Odisha BJP steps up its attack on Naveen Patnaik govt over I-T’s cash seizure

BJP has stepped up its attack on the Odisha government over seizure of over ₹300 crore of cash by the Income Tax department from campuses belonging to liquor manufacturers in the State

The Hindu

T.N. government adopts 2 modes of payment for Michaung relief

State govt. to give ₹6,000 cash relief to families in Chennai, Kancheepuram, Tiruvallur, and Chengalpattu districts hit by Cyclone Michaung. Cash payment for those affected by cyclone or lost belongings due to inundation. DBT for senior officials, income tax assessees, and sugar-drawal ration card holders. Tokens for payment to be…

The Hindu

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Odisha: IT raid concludes at Congress MP Dheeraj Sahu's Balangir premises

Income tax officials on Tuesday concluded an IT raid at Congress MP Dheeraj Sahu's premises in Odisha's Balangir. Read further on Dynamite News:

Dynamite News

Five Year-End Tax Tips for Freelancers

These tax tips can help avoid IRS audits and possibly have you paying less taxes as a freelancer this year.

Kiplinger

Odisha: I-T raids enter sixth day at the premises linked to Congress MP Dheeraj Sahu

The Income Tax raids entered the sixth day at the premises of Baldev Sahu Infra Pvt Ltd company at Sudpada in Balangir, Odisha. The company is allegedly linked to Congress Rajya Sabha MP Dheeraj Sahu. Read further on Dynamite News:

Dynamite News

Income Tax raids: Congress seeks clarification from party MP Dhiraj Sahu

Congress seeks clarification from RS MP Dheeraj Sahu after ₹350 crore in cash from entities linked to his companies is recovered in I-T raids. Congress says it's a personal matter and will not comment until official statement from I-T and related agencies. BJP stages protest, demands Sahu's arrest. Congress MLA…

The Hindu

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Cash seizures from entities owned by Congress MP to be more than ₹350 crore

I-T dept. in Odisha seized ₹350 crore cash from distillery units. SBI Balangir branch counted ₹305 crore, Titlagarh ₹11 crore & Sambalpur ₹37.5 crore. This is the highest ever cash seizure in a single case. I-T officials will connect dots to source of cash from distillery promoters. Union Minister Pradhan…

The Hindu

Kishan Reddy questions Congress over I-T seizures in Jharkhand

The Union Minister dubbed Mr. Sahu as “black money, hero” and said the Jhankhand MP is a close confidant of Rahul Gandhi and allegedly supported and fulfilled all the requirements of the Congress leader’s ‘Bharat Jodo yatra’ last year.

The Hindu

I-T dept conducts raid at Boudh Distilleries in Odisha for fifth day in a row

The Income Tax Department conducted raids at the premises of Boudh Distilleries Private Limited on Sunday. Read further on Dynamite News:

Dynamite News

BJP targets Congress over IT raids against Dhiraj Prasad Sahu

Both the ruling BJP and the Opposition Congress engaged in a political slugfest on Saturday over the Income Tax department’s raids at Congress Rajya Sabha MP Dhiraj Prasad Sahu

The Hindu

Odisha cash haul | BJP stages protest in J&K, demands action against Congress MP Sahu

Shouting anti-Congress slogans, the BJP activists assembled outside the Press Club in the heart of Jammu and held a peaceful demonstration.

The Hindu

I-T seizures | PM Modi says money looted from public will have to be returned

I-T dept recovers ₹220cr in raids linked to Odisha-based distillery group. PM Modi says looted money must be returned.

The Hindu

This Corporate Law Case Could Accidentally Overturn U.S. Taxes

Moore v. United States might wreak economic havoc.

Foreign Policy

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The Hindu

Will ensure equal employment opportunity for all: Union Minister

Union Minister of State for Health and Family Welfare Bharati Pravin Pawar inaugurated the 11th phase of Thiruvananthapuram Rozgar Mela, aimed at providing equal employment opportunities for all. Prime Minister Narendra Modi's message was screened, and 25 job aspirants were given appointment letters. Skill India and Start-up India were launched…

The Hindu

Contractor under IT scanner passes away

The vice-president of Karnataka State Contractors’ Association R. Ambikapathy, who was in the news last month after the Income Tax Department recovered a huge cache of cash from him, passed away here on Monday.

The Independent UK

Jeremy Hunt hails biggest tax cuts since Thatcher but plans condemned as ‘not good for growth’

Chancellor ‘opens the door to May election’ with national insurance giveaway and hint of income tax cut in spring

The Guardian - UK

Autumn statement 2023: what it means for people on a range of incomes

How Hunt’s measures on tax, NI and benefits will affect single people, couples and those receiving pensions in England, Wales and Northern Ireland

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The Independent UK

Jack urges Scottish Government to use cash ‘wisely’ and not raise income tax

But Scottish Finance Secretary Shona Robison said the autumn statement had not provided the funding devolved governments need.

inkl

Economic Productivity Through the Lens of Global Tax Policy

In the realm of global economics, the interplay between taxation and productivity forms a complex tapestry, with each country weaving its unique pattern.

The Guardian - UK

Wednesday briefing: What’s ‘on the table’ for Jeremy Hunt’s autumn statement

In today’s newsletter: Amid backbench pressure to cut taxes, Rishi Sunak and his chancellor have signalled a willingness to bring forward tax cuts

The Guardian - UK

Pressure grows on Hunt to cut income tax as millions more face paying it

Hopes that nearly 4 million low paid UK workers would be able to keep more of their earnings if personal allowances are uprated

The Guardian - UK

‘I’m reducing my hours’: fiscal drag’s impact in the cost of living crisis

Guardian readers share how frozen income tax thresholds have tipped them into higher brackets, affecting household budgets

The Guardian - UK

Autumn statement: where might Jeremy Hunt spend his windfall?

The chancellor is estimated to have billions to play with and has a range of options from lowering income tax to cutting inheritance tax

The Independent UK

Shakira reaches deal to avoid $15 million tax fraud trial as jail time swapped for fine

Colombian singer Shakira has reached a settlement with prosecution to avoid a trial over charges she failed to pay 14.5 million euros ($15.74 million) in Spanish income tax between 2012 and 2014.

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