ITAT Chennai held that waiver of amount of loan, whether principal or interest component, cannot be brought to tax under section 41 (1) of the Income Tax Act. Accordingly, appeal of assessee allowed ...

14. Mr Pardiwalla submitted that there was no independent application of mind by the AO, and this was an instance of the AO acting under dictation. He submitted that the AO incorrectly thought that he ...

Truong Ba Tuan, deputy director general of the Department of Tax Policies, Fees, and Charges Supervisory Authority under the Ministry of Finance (MoF), noted that adhering closely to the guidelines of ...

The impact of fiscal drag on pension incomes has been revealed, with nine million older people facing paying tax to HMRC.

President Donald Trump’s big bill is likely to unleash trillions in tax cuts and slash spending, but also spike deficits by ...

State tax collections continued to cruise in May, putting the total haul with just one month left in the fiscal year more than $2.8 billion ahead of last year’s pace.

This year, Stitt also vetoed more bills than any previous year of his administration. He issued 68 vetoes compared to more ...

Mineral Point is a $16.2 million housing project consisting of 34-units throughout three highly energy efficient two-story walk-up buildings, with studios, one- and two-bedroom layouts. Town awarded ...

A small government office with some 275 employees has found itself caught in the political crossfire as Congress debates ...

Ahead of Game 1 of the Stanley Cup Final, the NHL and NHLPA leadership met with the press to address a number of pressing ...

The Urban-Brookings Tax Policy Center estimates that, on average, Americans' taxes would rise about 7.5% if the 2017 tax cuts ...

Governor Brian Kemp and the Georgia Department of Revenue have announced the rollout of one-time surplus tax refunds for eligible Georgians, made possible by House Bill 112 and the state’s strong ...