Family
As working families in Scotland continue to feel the strain of increasing taxes, the SNP and their allies are pushing for even higher tax rates, claiming it is "progressive". However, the reality is that Scots are now the most heavily taxed individuals in the UK, with middle-income workers
Fraud
Police arrested two IT company executives in Bangkok and Pathum Thani provinces for allegedly defrauding over 70 million baht in value-added tax (VAT). The suspects, Suwat and Saichon, face charges of colluding to evade tax obligations and failing to issue tax invoices. The investigation revealed discrepancies in the company'
Fraud
A Nigdi-based advocate and a Kolhapur resident were arrested for allegedly duping a building contractor from Moshi out of Rs2.65 crore. The duo offered the contractor a promise of depositing Rs112 crore in his bank account for 10 years, with the option to use a part of the interest
Fraud
The United States Court of Appeals for the Third Circuit has ruled in the case of Murrin v. Commissioner that taxpayers are still liable for errors and inaccuracies on their tax returns, even if caused by their preparer's fraudulent intent. The decision affirms the U.S. Tax Court&
Fraud
The income tax department has launched an investigation into alleged fraudulent deductions from taxable income claimed by individual taxpayers in Buldhana, Chandrapur, and Latur districts. A total of 1,500 returns were scrutinized, resulting in the discovery of fake deductions under Section 80G and exemptions under Section 10. The investigation
Fraud
Ravindra Singh Chauhan, a cook from Bhind, Madhya Pradesh, received a notice from the Income Tax Department alleging that his bank account, opened in his name, was linked to suspicious transactions worth Rs 46.18 crore. The cook claims that his yearly transactions do not exceed Rs 3 lakh, making
Income tax
As interest rates rise, more people are facing tax liabilities on their savings interest, a phenomenon known as fiscal drag. The Personal Savings Allowance, which was introduced in 2016, has been frozen, causing more than two million people to become liable to pay tax on their interest in 2023, up
Legislative bills
The New Income Tax Bill 2025, aimed at simplifying tax procedures and modernising outdated provisions, has been passed in the Lok Sabha and Rajya Sabha. The bill, which replaces the 1961 Income Tax Act, was met with controversy as opposition parties staged a walkout, criticising the government for not allowing
Legislative bills
The Indian government has passed a new income tax bill in Parliament, which seeks to replace the six-decade-old Income Tax Act, 1961. The new bill introduces several key changes, including the concept of a "tax year", the broadening of the definition of "virtual digital assets", and
Legislative bills
A new law designed to encourage the retention and hiring of journalists has provided $4 million in state tax credits to 40 Illinois local news entities, operating 120 outlets. The recipients represent a diverse cross-section of Illinois' local news ecosystem, spanning major legacy organizations, small community newspapers, digital startups,
Legislative bills
The Lok Sabha on Monday passed the revised Income Tax Bill 2025, a major reform aimed at modernizing and simplifying India's decades-old income tax law. The bill, introduced by Finance Minister Nirmala Sitharaman, incorporates recommendations from the Select Committee of Parliament and aims to ease compliance for taxpayers,
Legislative bills
The Lok Sabha passed two taxation bills, Income Tax (No. 2) Bill, 2025 and Taxation Laws (Amendment) Bill, 2025, amidst continued protests from Opposition members on August 11, 2025. Finance Minister Nirmala Sitharaman introduced the bills for passage, which were approved by voice vote without any debate. The Opposition accused
