Income tax
The International Energy Agency (IEA) has revealed that Massachusetts is the best state to own an electric vehicle (EV) in the US, boasting the most charging ports and EV stations. Maine offers the most generous EV tax credit and tops the road safety rank. Additionally, the IEA reported that over
Income tax
Pennsylvania's revenue collections continue to demonstrate a stable financial outlook, with the state collecting $46.4 billion in General Fund revenue in the 2024-25 fiscal year, $321 million above projections. This surplus is a result of strong sales and personal income tax collections, which both exceeded expectations. Revenue
Income tax
Chittagong's Custom House Commissioner Md Zakir Hossain has been suspended by the National Board of Revenue (NBR) for allegedly disobeying official instructions, leading to significant revenue losses and disruptions in trade activities. This move comes after Zakir's department remained closed on June 28 and 29, causing
Income tax
Several new rules and regulations have come into effect in India starting from July 1, 2025, affecting various aspects of everyday life. The changes include filing income tax returns, credit card charges, Tatkal train ticket bookings, Aadhaar card mandatory for new PAN applicants, and revised charges on select transactions for
Income tax
President Trump's characterization of a new tax deduction in the recent Senate-passed bill as an elimination of Social Security taxes has been met with skepticism from critics, who argue that the deduction is not a universal solution to seniors' tax burdens. The bill aims to provide relief
Income tax
The Income Tax Appellate Tribunal (ITAT) in Kolkata has issued an order on June 24, 2025, setting aside the decision of the Additional/Joint Commissioner of Income Tax Bhopal and remitting the case back to the file of the Addl./JCIT(Appeals) for deciding it afresh. The order was passed
Income tax
In a significant development, the Income Tax Appellate Tribunal (ITAT) - Kolkata has set aside the order of the Commissioner of Income Tax (Appeals) in the case of Bahalnagar SKUS Limited for Assessment Year 2018-2019. The Tribunal has remitted the matter back to the file of the CIT(A) with
Income tax
The Income Tax Appellate Tribunal (ITAT) in Kolkata has issued an order on June 24, 2025, setting aside the order of the Commissioner of Income Tax (Appeals) in the case of Vikram Kasera for the assessment year 2017-2018. The ITAT has remitted the matter back to the CIT(A) to
Income tax
As the Modified Taxation Scheme takes effect on July 1, 2025, aiming to widen the tax net by targeting informal sector workers, tax analyst Francis Timore Boi has expressed concerns about the GHS20,000 annual income threshold for businesses. He argues that this threshold is too low and unfairly burdens
Income tax
The Georgian Pension Agency has implemented a significant change in the pension declaration process, merging it with the personal income tax (PIT) declaration. As of May 2025, employers are required to submit both declarations simultaneously via the Georgia Revenue Service portal by the 15th of the following month. This updated
Income tax
July is starting with several critical financial changes that can directly impact your monthly budget and banking behavior. The extension of the ITR filing deadline, new Aadhaar verification rules for PAN cards, and revised service charges by major banks like SBI, HDFC, and ICICI are just a few of the
Income tax
The Auditor General of Pakistan has released a report highlighting a disconnect between the surge in income tax return filers and the actual increase in tax revenue, with the latter limited to just 30 percent in 2024 compared to a 76 percent increase in return filers. The report attributes this
