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Worldwide, 175 countries—including all major European countries—levy a value-added tax (VAT) on goods and services. However, to reduce compliance and administrative costs, most cou...
The Central Board of Direct Taxes (CBDT) has announced the Baddi Barotiwala Nalagarh Development Authority (BBNDA) u/s 10(46) of the Income-tax Act, 1961, granting income tax exemp...
CBDT Circular No. 4/2002 & TDS on Exempt Institutions: A Forgotten Relief Every Taxpayer and Deductor Must Understand For decades, companies, banks, PSUs, Government departme...
Traders allowed to exit fixed tax scheme; car import duties slashed up to 56%
Making Tax Digital for Income Tax became mandatory on 6 April 2026 for sole traders and landlords with qualifying income over £50,000, […] The post Making Tax Digital Exemptions: C...
Mahoning County commissioners approved an owner-occupancy tax exemption.
Leasing entities in IFSCs will enjoy improved liquidity as funds are no longer locked up in TDS credits
Many taxpayers have traditionally followed one of two approaches when receiving gifts from specified relatives such as parents, spouse, children, siblings, or certain lineal ascend...
Tax breaks and RBI steps target sustained foreign dollar inflows
Mumbai ITAT grants capital gains tax relief to a taxpayer who filed his Income Tax Return late. The tribunal ruled that reinvesting gains into a new property before a belated retur...
In East Cobb, homeowners over 62 have a distinct advantage: the Cobb County Senior School Tax Exemption. Once you hit that age, you can eliminate the school portion of your propert...
No Form 10B? ITAT Delhi Clarifies: Charitable Trust Cannot Be Taxed on Gross Receipts Alone Non-Filing of Form 10B May Deny Exemption Under Sections 11 & 12, But It Does No...
The Surat bench of the Income Tax Appellate Tribunal (ITAT) said that the late filing of the audit report in Form No. 10B is not a valid ground to refuse the exemption u/s 11/12 of...
Internal Revenue Service officials are working to increase compliance of tax-exempt groups as well as for-profit businesses with the help of whistleblowers.
Customs duty exemptions drop 24% to Rs499b; FTA-related cost zero
From agricultural income to life insurance proceeds, here are 10 types of income that are completely tax-free in India under the Income Tax Act — know them before filing ITR 2026.
No Old Bills? Still Eligible for Indexed Cost and Full Section 54 Exemption, Rules Chandigarh ITAT Joint Ownership Does Not Mean Half Deduction When Entire Investment Is Made by...
Has the Income-tax Act, 2025 Changed the Law on Capital Gains Exemption for Depreciable Assets? One of the most settled principles under the Income-tax Act, 1961 was that a deemi...
The new budget law rewrites tax rules advisors use for business sales and CPP
A new IRS change could make penalty relief less of a paperwork chase for some taxpayers.The Internal Revenue Service announced on Wednesday, July 8, that it is introducing an Autom...
Rising property taxes are quietly pushing many retirees to the financial breaking point, especially in areas where home values have surged over the past few...
Central organizations at nonprofits with local affiliates are now required to file a new form with the IRS to maintain their tax-exempt status.
PUTRAJAYA, June 12 — All new applications for approval under Subsection 44(6) of the Income Tax A...
The European Commission, the OECD, the IMF and the Bank of Greece recommend the review of tax exemptions and the cancellation of those without a social objective.
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