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The Latest Breaking News from Income Tax

Congress to contest validity of ED’s case without FIR in National Herald issue

ED has overturned its initial position that an FIR was mandatory to register an Enforcement Case Information Report

The Hindu

CTS moves HC against pre-payment to stay outstanding tax demand

Firm tells court that “excess security” running to a few thousand crore rupees was already lying with the Income Tax Department

The Hindu

Boris Johnson signals no cuts in taxes as inflation soars and UK economy shrinks again

The latest figures from the Office for National Statistics heighten fears that Britain is heading for a recession.

Daily Record

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Explained | What is the National Herald case and why has the ED summoned Sonia and Rahul Gandhi?

The original matter dates back to 2013 when BJP MP Subramanian Swamy had approached a trial court alleging that the Gandhis had fraudulently acquired the publishing company of the National Herald newspaper

The Hindu

How your spiking energy bills are making foreign investors rich

Australia's oil and gas resources are overwhelmingly exploited by global multinationals and most of these corporations pay no tax.

ABC News

Second Cabinet minister backs earlier tax cut ‘when we can afford it’

Northern Ireland Secretary Brandon Lewis said the move should be fast-tracked if circumstances allow.

The Independent UK

Javid suggests income tax cut should be brought forward if possible

Health Secretary says the Chancellor will want to slash taxes ‘as soon as he can’.

The Independent UK

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Income tax cannot be deducted on compensation amount given for acquiring land: Bombay HC

The National Hi-Speed Rail Corporation Limited had acquired a land at Bhiwandi in Thane for bullet train project

The Hindu

Does paying for tax advice save money? Only if you’re wealthy

If you use a tax adviser to complete your income tax return you’re not alone. Australians use tax advisers more than any other nation apart from Italy.

The Conversation

Rick Scott revises plan for more people to pay income tax after bipartisan criticism

U.S. Sen. Rick Scott on Thursday released a revised version of his plan to “Rescue America,” backing down from his proposal that would require all Americans to pay “some income tax,” an ambiguous statement that suggested imposing new taxes on millions of people currently making too little money or seniors…

Tribune News Service

A year on since launch, I-T portal marred with another glitch; Infosys directed to fix issue

Many users complained of issues while accessing the I-T portal and reported that it was hacked on June 7

The Hindu

Tory MSP leaves 'false' tweet up – despite being corrected by expert he quoted

WHAT do you do if you make a mistake? Apologise? Try to make amends?

The National (Scotland)

Income Tax raids on Embassy Group

Bengaluru

The Hindu

Scottish Government takes the scalpel to public services

Digging into yesterday's Spending Review documents reveals the extent of upheaval during the next few years

Insider UK

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Insider UK

Axing or taxing - difficult decisions ahead for Kate Forbes

Tomorrow's Spending Review announcement comes during a particularly tight time for the economy

The Guardian - AU

Jim Chalmers banks on capital spending to help ease cost-of-living crisis

New treasurer says Labor is ‘not contemplating’ extending fuel excise cut or low and middle income tax offset

The Hindu

Income Tax department inspects five hospitals in Kochi

Move follows information that doctors were paying only 10% TDS instead of the mandatory 30%

Los Angeles Times

Commentary: California’s economy may seem healthy. But just wait for the next recession

The California economy may seem healthy on the surface, with home prices soaring, Silicon Valley booming and the state government posting big multi-year state budget surpluses thanks to a massive surge in capital gains tax revenues and income tax revenues from tech stocks.

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The Guardian - AU

Liberals should make superannuation voluntary and childcare free, moderate Andrew Bragg says

NSW senator’s proposed reform agenda also includes increasing climate targets and introducing state income tax, as party reels from election loss

The Guardian - UK

We can’t all work ourselves out of the cost of living crisis

Letters: An immediate increase in benefits could surely be brought into play, writes Jill Westby. Plus letters from Lisa J Rafferty and Carolyn Sutton on their struggles with rocketing household bills

Tribune News Service

Tax deal reached in final weekend of session at Minnesota Capitol

MINNEAPOLIS — Seniors would no longer pay taxes on social security income, millions of Minnesotans could see a small income tax cut and tens of thousands of families and renters across the state would be eligible for more tax credits under a sweeping deal struck Saturday at the divided Capitol.

The Hindu

Election Commission decides to curtail perks of CEC, ECs

The Election Commission unanimously decided that the CEC and ECs will not take any Income Tax benefits given to them now.

The Hindu

About five lakh BPL cards axed

Bengaluru

Reuters

Romania considers changing its tax system

Romania is considering changing its tax system, Prime Minister Nicolae Ciuca said on Wednesday in a surprise announcement, and his leftist coalition partners said they wanted to replace the current flat income tax rate with a progressive one.

Daily Mirror

3 changes Rishi Sunak could make to your finances - as MPs vote on emergency budget today

From a windfall tax on energy giants and a 1p income tax cut to a quadrupling of the £150 Warm Home Discount Scheme, various ideas are seeping out of the woodwork - but Labour are demanding the Tories go further with help now

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