The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled in favor of Purna Purshottam Exports, stating that the Principal Commissioner of Income Tax (PCIT) cannot invoke Section 263 of the ...

The bill is also undergoing detailed examination by a parliamentary committee. It will replace the Income Tax Act of 1961, introducing the term 'tax year' to replace 'assessment year', with new ...

ITAT Bangalore held that delay in cash deposits, during demonetization, due to unforeseen circumstances like laxmi pooja and staff vacations post deepavali doesn’t imply fabricated income or an ...

With the first floor debate of the year, the Senate passed our K-12 education funding proposal. Senate File 167 is a $235 million increase for K-12 education in Iowa. When combined with last year’s ...

Now you could cash out your retirement plan without a penalty if you’re at least 59½ and move that money into a savings ...

Whether it's a summer job or a full-time position, some students may have to file an income tax return — and it could give ...

There are general rules for whether you have to file a federal tax return this year, according to the IRS. Even if you don't ...

As part of his newest budget proposal, Gov. Josh Shapiro suggested accelerating an ongoing reduction of Pennsylvania’s corporate net income tax. While that sounds like a good idea for the state’s ...

The IRS will lay off thousands of probationary workers in the middle of tax season, according to two sources familiar with ...

Pollster Tony Fabrizio found swing voters support tax credits for healthcare premiums, a provision of the Obamacare law that Republicans have opposed.

When they file their returns this year, high-income taxpayers should be prepared for an additional hit. The net investment ...

Tax season opened on January 27, meaning taxpayers can now file and pay their tax returns with the Internal Revenue Service.