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TAX REVENUES
In 2007, heirs sold a conservation easement on inherited farmland for $910,000, in 2013, they got a shock from US Tax Court- GST Council reforms address key industry concerns, focus shifts to implementation, says Dept of Revenue official
- Why a raise may not push you into a higher bracket in 2026: The IRS inflation adjustment trick that many taxpayers still overlook today
- Restaurants face income tax scrutiny as suspected tax evasion tops Rs 25,000 croreThe income tax department in India has identified significant tax evasion by thousands of restaurants. Approximately 8,000 restaurants show...12 Oct, 2026, 12.41 PM IST
- In 2005, a US couple sold their farm during bankruptcy, IRS sent them a tax bill, Supreme Court settled who paysThe case, Hall v. United States, involved Lynwood and Brenda Hall, who filed for bankruptcy under Chapter 12 of the US Bankruptcy Code in A...09 Oct, 2026, 08.22 PM IST
- Anand Rathi Wealth Q2 Results: Profit rises 22% to Rs 122 crore; co declares dividend of Rs 4 per shareAnand Rathi Wealth reported a 22% year-on-year rise in Q2 business profit to Rs 122 crore, with revenue increasing 16%. Assets under manage...09 Oct, 2026, 07.12 PM IST
- Premiumisation core growth engine for alcobev: ISWAI reportPremiumisation is driving growth in India’s alcoholic beverages market, with the premium segment expanding at a 10.2% CAGR between 2022 and...09 Oct, 2026, 04.25 PM IST
- Govt withdraws key bank tax benefit on gold, silver and platinum importsThe Indian government did not extend a tax benefit for banks on imports of gold and other precious metals and they have been paying a 3% in...09 Oct, 2026, 11.24 AM IST
- After flat Indian-Made Liquor sales in April-Sep period, industry body warns Karnataka of harm to revenueThe Confederation of Indian Alcoholic Beverage Companies opposes Karnataka's increased taxation on Indian-Made Liquor. Recent data shows st...08 Oct, 2026, 03.14 PM IST
- Electricity subsidy for existing businesses is taxable, Supreme Court rulesThe Supreme Court recently ruled that electricity subsidies granted under the Income Tax Act are subject to taxation as revenue receipts. T...08 Oct, 2026, 12.07 AM IST
- Donald Trump is considering an 18.4-cent gas tax cut, but will the savings reach your wallet?Trump’s proposal could offer some relief as prices climb. But the savings would likely be modest. Drivers may save a few dollars each time ...07 Oct, 2026, 06.28 PM IST
- Brussels looks to capture Big Tech through tax on large corporationsBrussels is considering taxing big US tech companies through a broad levy on large corporations in an effort to raise revenues for the EU w...07 Oct, 2026, 11.20 AM IST
- Bandhs, blockades cost Manipur Rs 25-30 crore in tax revenue daily: CMManipur Chief Minister Yumnam Khemchand Singh highlighted the significant daily tax revenue loss caused by bandhs and blockades. He urged t...07 Oct, 2026, 09.48 AM IST
- GST Council to focus on auto refunds, swifter ITC, fewer noticesThe government is preparing to transition the GST regime toward a trust-based tax administration. This shift includes introducing sweeping ...07 Oct, 2026, 12.46 AM IST
- Google cofounder Sergey Brin bets $102 million to dodge a $13 billion tax bill as California billionaires head for the exitSergey Brin has committed $102 million against a proposed one-time tax on California billionaires. This tax could potentially cost him arou...06 Oct, 2026, 06.31 PM IST
- Karnataka liquor volumes flat in H1 as beer gets three cheersKarnataka observed significant growth in beer sales, rising by 41% in the first half of the fiscal year. Indian-made liquor sales, however,...06 Oct, 2026, 03.47 PM IST
- Estate tax exemption for 2026 is $15 million: Here’s what families need to know about the IRS rules and $19,000 gift limitThe 2026 estate tax exemption is $15 million, while the annual gift tax exclusion remains $19,000 per recipient. Here’s what the IRS rules ...06 Oct, 2026, 04.38 AM IST
- On the right path of easing ease of bizTo strengthen compliance and reduce conflicts, reforming the Goods and Services Tax (GST) administration is essential. The GST Council will...05 Oct, 2026, 10.56 PM IST
- GST collections remain strong, but faster import growth needs watching: Tax expertsIndia's GST collections remained strong, rising to Rs 2.04 lakh crore in September, however experts express concern over the wide gap in ta...01 Oct, 2026, 05.45 PM IST
- Fiscal path hinges on direct taxes as customs, excise revenues face pressure: ReportIndia's fiscal trajectory will increasingly depend on the strength of direct tax collections due to lower customs duties. Indirect tax reve...01 Oct, 2026, 08.37 AM IST
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