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Market Report

How to qualify for Inflation Reduction Act climate tax breaks, rebates

The Inflation Reduction Act, passed by House Democrats on Friday and headed to President Joe Biden's desk for his signature, is the most ambitious climate spending package in U.S. history…

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August 13, 2022
Business

Corporate tax collection up by 34 per cent between April-July

Image Source : PTI/ REPRESENTATIONAL (FILE). Corporate tax collection up by 34 per cent between April-July. HighlightsTax collected on income of companies surged by 34% in first 4-months of current…

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August 13, 2022
Market Report

Inflation Reduction Act extends $7,500 tax credit for electric cars

David Madison | Photodisc | Getty ImagesA federal tax break that's available to car buyers for going electric may work differently starting next year.Under the Inflation Reduction Act — which…

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August 10, 2022
Market Report

Inflation Reduction Act limits pass-through tax break for 2 more years

Senate Majority Leader Chuck Schumer, D-N.Y., discusses the Inflation Reduction Act on Aug. 7, 2022 in Washington, D.C.Kent Nishimura | Los Angeles Times | Getty ImagesSenate Democrats curtailed a tax…

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August 10, 2022
Market Report

Does the Inflation Reduction Act violate Biden’s $400,000 tax pledge?

Jim Watson | Afp | Getty ImagesSenate Democrats' package of climate change, health-care, drug pricing and tax measures unveiled last week has proponents and opponents debating whether the legislation violates a pledge…

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August 5, 2022
Market Report

Embryos can count as dependents on 2022 state tax returns in Georgia

Anti-abortion activists demonstrate outside the Supreme Court of the United States in Washington, June 13, 2022.Evelyn Hockstein | ReutersResidents of Georgia may now claim embryos as dependents on their state…

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August 4, 2022
Business

Windfall tax on fuel export slashed; raised on domestic crude oil

Image Source : PTI Govt cuts windfall tax on fuel export, raises levy on domestic crude oil HighlightsThe tax on export of diesel was cut to Rs 5 per litre…

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August 3, 2022
Business

Oppo Vivo India Xiaomi issued govt notices for tax evasion Chinese smartphone manufacturers

Image Source : FILE PHOTO Representational image. HighlightsGovernment is looking into cases of alleged tax evasion by Chinese mobile companies Oppo, Vivo India and Xiaomi have been given notices for…

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August 2, 2022
Business

ITR filing: Income Tax department announces big change in verification timeline | Details

Image Source : PTI/REPRESENTATIVE ITR filing: Income Tax department announces big change in verification timeline HighlightsThe Income Tax department has reduced the time limit for e-verification. Timeline is reduced from…

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August 2, 2022
Business

Income tax return filing due date today, will government extend deadline?

Image Source : PTI/REPRESENTATIVE Income tax return filing due date today, will government extend deadline? HighlightsOver 5 crore ITRs have been filed as of 8:36 pm yesterday. Today is the…

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July 31, 2022
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