Income tax

Income tax reduction bill presented to Idaho House committee

BOISE, Idaho Legislation to reduce Idaho’s income tax and provide one-time discounts was introduced to the House income and tax committee on Wednesday. Gov. Brad Little described the proposal in his state-of-state address earlier this week, and the House committee moved at unusual speed to get it presented on the third day of the session, […]

Income tax

Replacing income tax with expenditure tax is the successful reform India needs

Each stimulus package aimed at stimulating the economy has its own impact on the country’s fiscal position. However, stimulus through tax reforms will be more helpful in building resilience in the economy in a sustainable manner. Finance Minister Nirmala Sitharaman seeks suggestions from stakeholders with a view to finalizing the annual budget for 2022-2023. It […]

Income tax

Alternative personal income tax regime finds few takers

NEW DELHI : The old personal income tax regime, which allows certain expenses to be deducted from taxable income, remains popular among taxpayers, relatively few opting for the new alternative tax regime introduced in the 2020 finance law, according to the professionals helping taxpayers complete their returns. They said softening the simplified tax system could […]

Income tax

Editorial: Other states have eliminated income tax and, with careful study, maybe Georgia can too

But it’s important to note here that the state doesn’t necessarily need to replace all income tax. The state government enjoys a large surplus of funds; returning some of that money to citizens and reducing taxes collected should be part of such tax reform. In most discussions of eliminating income taxes, the most likely compromise […]

Income tax

1.2 million more people will move into the 40p tax bracket

More than a million workers are expected to move into the top tax bracket over the next four years, it was claimed last night. Analysis from the House of Commons Library suggests that the Treasury’s decision to freeze the personal tax abatement and the higher-rate tax threshold until 2026 will push 1.2 million workers’ incomes […]

Income tax

Income Tax Department raids three shoe exporters linked to Samajwadi party in Agra

Two of the shoe exporters are Vijay Ahuja and Manu Alagh, residents of Lajpat Kunj. Manu Alagh would be Akhilesh Yadav’s friend and his classmate. The raids began simultaneously at 7:30 a.m. in all three locations. (ANI) The income tax department raided Agra’s three shoe exporters, all apparently supporters of Akhilesh Yadav and his Samajwadi […]

Income tax

188 lawmakers did not pay income tax for fiscal year 2019: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) released a list of 188 lawmakers who failed to file their tax returns in the 2019 tax year, while 35 parliamentarians, including former Prime Minister Yousuf Raza Gilani , declared their taxable income to be zero. According to documents available from The Express Tribune, Najeeb Haroon tops the […]

Income tax

I found a job in the United States. How my residency status will be determined

My son worked in Bangalore and was taxed as a resident. Then he left to continue his studies in the United States (August 2019 to June 2021), after which he found a job there in August 2021. During this period, his stay in India was also under- 1) 136 days in the 2019-20 fiscal year […]

Income tax

You never see boarded up towns in zero income tax states

Texas is the size of a large European country, in terms of population (30 million) and certainly geography. I lived there for sixteen years until last summer. You never see a barricaded town like this. You drive miles and miles and see development after development, business after business, campaign after campaign. Occasionally there is an […]

Income tax

Abbotsford Income Tax Program Volunteers Needed – Mission City Record

Abbotsford Income Tax Program Volunteers Needed Tax returns completed free of charge for low-income people Volunteers are now needed for a free income tax preparation program in Abbotsford for low income people. The program is looking for tax preparers and front desk volunteers, especially those who can speak a second language. Volunteers will take care […]