The decision clarifies that the monetary threshold under Section 149 applies to actual taxable income, not purchase turnover. As the addition fell below ₹50 lakh, reassessment proceedings were ...

Higher earning landlords and sole traders will be affected from April — but many still have no idea the changes are coming ...

The Court held that Explanation 1(f) to Section 115JB does not expressly permit addition of Section 14A disallowance, leading to dismissal of the Revenue s ...

Budget 2026 significantly softens penalties for income tax defaults. The jail term for failing to file ITR with tax exceeding ...

The Show Me State is the latest to consider eliminating state taxes on income, but the plan to replace that revenue could ...

A plan to partially disconnect Oregon's tax code from federal changes passed the Oregon Senate on Feb. 16 despite major ...

Ontario's fiscal watchdog says Premier Doug Ford's government is not on track to deliver on its promise to balance the budget ...

The Budget adopts a measured approach to personal taxation, prioritising structural improvements over immediate tax relief. Through legislative overhaul, procedural simplification and enforcement ...

A proposal to disconnect parts of Oregon's tax code from the federal code is heading to the Oregon Senate for a vote. Here’s ...

Residents across Greater Manchester will soon learn how much their council tax will rise by as authorities finalise their budgets.

However, there will still be a council tax rise for residents in the area ...

The Bureau of Internal Revenue (BIR) ended the two-month suspension of tax audit activities after issuing Revenue Memorandum Circular (RMC) No. 8-2026 and Revenue Memorandum Order (RMO) No. 1-2026.