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The Latest Breaking News from Tax Exemption

I-T exemption limit for leave encashment upon retirement for salaried employees hiked to Rs 25 lakh

NEW DELHI: In line with the Budget announcement, the finance ministry on Thursday hiked the tax exemption limit for leave encashment upon retirement for private sector salaried employees to Rs 25 lakh.

The Times of India

Childcare facilities could receive property tax exemption under a proposed Texas amendment

The Texas Legislature voted to send a constitutional amendment to the Nov. 2023 ballot that would allow counties or municipalities to authorize an exemption from property taxes on all or part of the appraised value of real property used to operate childcare facilities. A partial property tax exemption would need…

Ballotpedia

Michael Pfleger wants houses of worship to provide youth programs or lose tax exemption

SNEED EXCLUSIVE: St. Sabina pastor seeks methods of curbing the surge in gun violence that usually accompanies summer weather.

Chicago Sun-Times

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Texas Legislature sends property tax exemption for medical equipment and inventory to November ballot

The Texas State Legislature voted to send a constitutional amendment that would authorize the legislature to provide for a property tax exemption on equipment and inventory manufactured by medical or biomedical companies. The legislature also passed the enabling legislation, Senate Bill 2289 (SB 2289), which would take effect if the…

Ballotpedia

Brazil's Lula pledges new minimum wage policy, expanded tax exemption

Brazilian President Luiz Inacio Lula da Silva pledged on Sunday to introduce a new policy of real increases in the minimum wage and announced plans to raise the income tax exemption for lower-income earners.

Reuters

Colorado Voters Will Decide: Should 100% Disabled Vets Pay Lower Property Taxes?

An amendment change divides voters as some seek to reward military sacrifice and others oppose granting special privileges.

Zenger

Colorado voters will decide in 2024 on expanding property tax exemption for veterans with disabilities

Colorado voters will decide on a constitutional amendment in 2024 that would expand the homestead property tax exemption for veterans with service-related disabilities.

Ballotpedia

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Prepare for 2026 Estate Planning With SPATs, SLATs and DAPTs

The estate tax exemption is set to drop significantly in 2026, but these alternative tongue-twisting tax-savvy trusts could help.

Kiplinger

New Mexico State Legislature sends two constitutional amendments related to veteran property tax exemptions to the 2024 ballot

The New Mexico State Legislature voted to send two constitutional amendments to statewide ballots in 2024 on March 17 before adjourning on March 18.

Ballotpedia

Council's apology after writing to widower telling him he's dead

The letter went on to tell Stuart Dobson he could now claim a tax exemption

Liverpool Echo

Council apologises after writing to widower telling him he's dead and can claim tax exemption

The local authority told the live and kicking pensioner he was exempt from council tax as he had passed away

Wales Online

Council sends letter to widower telling him he is dead and can get a tax exemption

Stuart Dobson, 77, received a letter from South Norfolk Council saying it was "sorry to hear" he had died and explained how he could get a tax exemption

Daily Mirror

Nonprofit hospitals save more in tax exemptions than they provide in charity care: KFF

Nonprofit hospitals reaped almost $28B in tax exemptions from federal, state and local sources in 2020 while providing about $16B in charity care, a new KFF brief found.

Axios

Missouri would be only state in country that taxes food but not guns under GOP bill

JEFFERSON CITY, Mo. — Missouri would be the only state in the country that taxes food but does not tax gun sales under a bill being considered by the Missouri Senate.

Tribune News Service

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Reuters

Brazil markets tumble on Lula's first full day in office

Brazilian markets delivered a withering verdict on leftist President Luiz Inacio Lula da Silva's first full day in office on Monday, after he pledged to prioritize social issues and ordered a budget-busting extension to a fuel tax exemption.

Kiplinger

Gift Tax Exclusion 2026: How Much You Can Give Tax‑Free This Year

Knowing the annual gift tax exemption can save you time and money.

The Times of India

Union Budget 2023: Increase tax exemption limit for senior citizens, says Assocham

NEW DELHI: Industry body Assocham recommended increasing minimum tax exemption limit for senior citizens, that is, people from age 60 to 80 years of age.

The Times of India

Cricket bodies run on business lines, not for education: Supreme Court

NEW DELHI: Holding that cricket associations are run on business lines, the Supreme Court said that the activities of sports bodies, including the Board of Control for Cricket in India (BCCI), cannot fall within the meaning of ‘education’ to claim tax exemption as they spend insignificant amounts of money on…

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The Times of India

BCCI could lose Rs 955 crore if ICC doesn't get tax exemption for hosting 2023 World Cup

NEW DELHI: The BCCI could lose around Rs 955 crore (USD 116 million) if the central government sticks to its decision to levy 21.84 percent tax surcharge on ICC's broadcast revenue from the 2023 ODI World Cup, according to a Board report.

McClatchy Washington Bureau

Dr. Oz spent years, millions improving his Palm Beach mansion. Now he’ll get a tax break

Two weeks before he would become one of the year’s most famous and polarizing Republican nominees for office, Mehmet Oz was approved for a large tax exemption on a house he owns in a community close to his heart.

The Conversation

Indigenous people pay taxes: Demythologizing the Indian Act tax exemption

There is a common misconception among Canadians that Indigenous people do not pay any taxes. It perpetuates harmful stereotypes and hinders non-Indigenous Canadians from reconciling with the truths of Canada’s colonial history and present.

The Hindu

Stop talking here and there, answer why you ruined country's economy for friends: Sisodia to PM Modi

Delhi Deputy CM Manish Sisodia alleged the Centre has written off loans worth ₹10 lakh crore and gave ₹5 lakh crore tax exemption to Mr. Modi’s “friends”.

The Conversation

Why Labor's new tax cut on electric vehicles won't help you buy one anytime soon

The Albanese government has introduced tax cuts to electric vehicles in its first sitting week, claiming the proposed changes would be “good for motorists, good for climate action and good for fleet purchases”. They won’t, however, help most Australians afford one.

The Hindu

Haj group organisers, private tour operators cannot claim service tax exemption, says SC

The judgment came on petitions filed by HGOs and private tour operators challenging the levy of service tax on the service regarding the Haj pilgrimage

Bangkok Post

The wisdom of crowds

Sinwattana Crowdfunding Corporation sees long-term growth potential for the local crowdfunding market in future decades, expecting a 10-year capital gains tax exemption for investments in Thai startups under 12 target industries to motivate entrepreneurs and investors.

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