Summary: Section 270A of the Income Tax Act, introduced by the Finance Act, 2016 effective from Assessment Year 2017–18, deals with penalties for under-reporting and misreportin ...

INDIANAPOLIS — Northeast Indiana legislators supported Senate Enrolled Act 1, advancing a robust package of property tax relief for Hoosier homeowners and long-term reforms. SEA 1 has now been signed ...

Tough decisions will have to be made. That much local government officials in St. Joseph County know as they’ve just started ...

The Underused Housing Tax (UHT) is an annual federal 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022. The UHT generally applies to foreign national ...

Investopedia / Theresa Chiechi Tax-exempt refers to income or transactions that are free from tax at the federal, state, or local level. The reporting of tax-free items may be on a taxpayer's ...

For workers, the main rates of NI and income tax are not increasing. However, many people will pay more tax overall because the points at which people start paying - or move to higher rates - have ...

The driving force behind that unfairness, he says, is Europe’s value-added tax system. “They rip us off,” he said of the European Union. “It’s so sad to see. It’s so pathetic.” ...

The US of Representatives passed a bipartisan bill that aims to increase transparency in the Internal Revenue Service's (IRS) management of tax return mistakes. What is What is IRS MATH Act?

The Union Budget 2025 introduced a series of significant amendments to the Income Tax Act 1961. The announcements made by Finance Minister Nirmala Sitharaman during her budget speech this year are ...

“The DA submitted their proposals on the budget which included increases in personal income tax, the fuel levy and excise duties.” He accused the DA of hypocrisy and not putting South Africans ...

The Union Budget 2025-26 raised the tax-free income limit to Rs 12 lakh for FY26 via rebate under Section 87A of the Income Tax Act, 1961. Currently, it is Rs 7 lakh for the ongoing FY 2024-25. So, ...

First, the net taxable income needs to be calculated. It will be calculated as follows: The income tax will be calculated on the net taxable income. You will be required to calculate income tax on Rs ...