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The Latest Breaking News from Income Tax

Lady took loan for investment into venture capital fund, claimed Rs 1.49 crore interest deduction, was denied by I-T dept; ITAT allows it in a landmark ruling

Aishwarya Bachchan won a tax case in ITAT Mumbai. She claimed Rs 1.49 crore interest deduction on a loan taken for Venture Capital Fund investments. The tax department denied this. ITAT ruled in her favour, allowing the deduction. The tribunal cited consistency in accepting similar claims and sufficient proof of…

The Economic Times

12 key income tax form changes every taxpayer should know: From Form 16 to Form 168

A new Income-tax Act arrives on April 1, 2026. It brings fresh income tax forms and replaces many old ones. Taxpayers will use these new forms for various reporting needs. Key changes include updated PAN application forms and new TDS certificates. This marks a significant shift in tax compliance procedures…

The Economic Times

Family and business trusts could soon have to pay more tax – with a few likely exceptions

Should some of Australia’s more than 1 million family and small business trusts face higher taxes in future, bringing them closer to what ordinary wage earners already pay in income tax?

The Conversation

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Which Europeans pay the most income tax and where do children make the biggest difference?

Europe’s personal income tax rates differ significantly, with dependent children lowering tax burdens in several countries.

Euronews

May 2026 income tax calendar: Important TDS, TCS deadlines and other due dates explained

Taxpayers, mark your calendars for May 2026! Crucial compliance deadlines loom, including TDS/TCS deposits for April and certificate issuances. Remember to file key statements and declarations under the Income-tax Act, 2025, to avoid penalties. Stay informed to meet these important dates.

The Economic Times

Prince William's income tax bill revealed - and he's one of Britain's biggest taxpayers

Most of William’s income comes from the Duchy of Cornwall, a royal land estate valued at more than £1 billion

Evening Standard

Local elections 2026: What is each party offering voters?

More than one million people are eligible to vote on Thursday in the biggest set of elections since 2024

The Independent UK

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Amazon and Tesla Among 88 Major US Firms Paying Zero Corporate Income Tax Last Year Despite Billions in Profit

A report by the Institute on Taxation and Economic Policy reveals that 88 major US corporations paid no federal income tax in 2025, despite earning significant profits, due to legal tax code provisions.

International Business Times UK

Nearly two million more higher-rate taxpayers since start of decade

The rise has been driven by more people moving into the tax band thanks to the freeze on income thresholds.

Evening Standard

'Stealth' income tax bombshell: London hit with record £71billion bill as millions in city pay more

Exclusive: Londoners are being hammered with rising income tax bills as hundreds of thousands are dragged into paying its basic or higher rates

Evening Standard

Do you prefer to pay income taxes or sales taxes? Missouri voters will get to choose

Do you prefer to pay income taxes or sales taxes

The Independent UK

April 30 Deadline: If You Live in One of These 'Late States,' Your Taxes Are Due This Week

Residents in Delaware, Iowa, Virginia, and beyond must file 2025 state income taxes soon or request an extension. Don't miss the due date.

Kiplinger

Paradise lost? This state has the highest tax burden in the country

The states with the highest and lowest tax burdens couldn’t be more different

The Independent UK

10 Most Affordable States for High-Income Earners

Find the most affordable states where high-income earners benefit from lower taxes, reasonable cost of living and more take-home pay.

GOBankingRates

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The Free Financial Advisor

Tennessee Residents Still Pay Federal Taxes on Investment Income Despite State Changes

Tennessee has made headlines in recent years for eliminating its state tax on certain types of investment income, and that sounds like a big win at first glance. The reality, however, carries a twist that often catches investors off guard. While the state stepped back from taxing dividends and interest,…

Saving Advice

6 Cities That Completely Skip Income Tax for Seniors (But Few Know About Them)

If you’re living on a fixed income, every dollar matters more than ever. One of the biggest hidden drains on retirement income is state income...

The Free Financial Advisor

North Carolina’s Flat Tax Savings in 2026: Why Everyday Costs Still Matter

North Carolina’s flat tax was introduced to simplify the state’s income tax system and reduce the burden on households. By replacing tiered brackets with a single rate, lawmakers aimed to make filing easier and give residents more predictable savings.

GOBankingRates

I Asked ChatGPT Which States Have the Highest Tax Burden — Here’s What It Said

ChatGPT analyzed tax burden by state to see which states tax residents most and why the rankings may surprise you.

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Everybody Loves Your Money

These States Have the Highest Tax Burden in America—Are You Living in One?

Money disappears faster than expected when taxes quietly chip away at income, purchases, and property. Some states stretch every dollar further, while others demand a much larger slice of earnings through layered tax systems. Residents often focus on income tax rates, yet the true “tax burden” includes sales taxes, property…

Kiplinger

13 States With No Retirement Tax Ranked by How Much You Need to 'Retire Comfortably'

A $0 state income tax bill doesn’t always mean a cheaper retirement. See which states stretch your dollar further.

The Guardian - US

‘Fund people, not bombs’: inside the US movement against war in Iran

Protests coincide with a congressional vote to stop arming Israel and a movement to withhold income taxes

Reason

Trump's Illegal War in Iran Is Financed by Your Taxes. That's a Good Reason To Stop Paying Them.

If Congress will not deploy the power of the purse to restrain a lawless administration and an illegal war, then it falls to the public to do so.

International Business Times UK

Over 70 Jobs Now Qualify for 'No Tax on Tips' — Check If You're On The List

The IRS has clarified tax deduction rules for over 70 occupations relying on tips, allowing eligible workers to deduct up to $25,000 in qualifying tips from federal income tax from 2025 to 2028.

International Business Times UK

'Americans Not Required To Pay Income Taxes?' Ex-IRS Agent's Claim In Greene Interview Sparks Debate

Former IRS agent Joe Bannister says he was silenced when he questioned the agency about laws that do not require Americans to pay taxes.

The Free Financial Advisor

Florida Has 0% Income Tax — But Seniors Still Spend Thousands a Year on Essentials

No state income tax is like a jackpot, right? It grabs attention fast, sparks big dreams, and fuels countless retirement plans built around sunshine and savings. Florida wears that zero-percent badge like a crown, and it absolutely delivers on that promise. No income tax means more take-home money, fewer headaches…

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