MYSTERIOUS: Income tax news topic - You Need To See This

Delhi techie couple donates Rs 50 to political party, claims Rs 40 lakh ITR deduction, evades Rs 5.3 crore income tax, faces IT probe

A Delhi-NCR techie couple allegedly claimed Rs 40 lakh in tax deductions after donating just Rs 50 to a political party. An Income Tax Department probe uncovered fabricated donation receipts, a ChatGPT-generated Yale education loan certificate, bogus housing loan claims and undisclosed rental income, estimating tax evasion of Rs 5.3…

The Economic Times · 7h ago

No free electricity for Bihar taxpayers? CM appeals to income-tax payers to surrender 125-unit benefit and support state's development

Bihar Chief Minister Samrat Choudhary has appealed to financially well-off residents and income-tax payers to voluntarily surrender their benefit of 125 units of free electricity and contribute towards the state's development. The Bihar government spends around Rs 23,000 crore annually on electricity subsidies.

The Economic Times · 8h ago

What the Arthashastra Says About Keeping Records Every Household Should Copy

Most households do not fail because of bad decisions. They fail because nobody could find the right paper at the right time, the insurance policy during a hospitalisation, the property deed during a dispute, the warranty card the week after it would have mattered. Chanakya understood this problem two thousand…

Times Life · 10h ago

Your 401(k) Catch-Up Contributions May Be Taxed Differently in 2026 — Who’s Affected?

Some workers can put thousands of extra dollars into their 401(k) as retirement approaches. Starting in 2026, however, higher earners face a change that could make those extra contributions more expensive on payday. A new rule under the SECURE 2.0 Act requires certain workers to make their 401(k) catch-up contributions…

The Free Financial Advisor · 22h ago

Voters usually decide one or two income or wealth tax measures a year. This midterm season, there are nine

Colorado, Washington and Cook County voters will also weigh taxes on top earners, while other states move to make taxes harder to raise.

Fortune · Nov 1

You Get a $10,000 Raise — Why Might Your Take-Home Pay Barely Change?

A $10,000 raise feels like the kind of news that deserves a celebration. Then the first paycheck arrives, and the celebration gets a little quieter. The salary looks better on paper, but the extra money in the bank account barely seems worth the fuss.

The Free Financial Advisor · Oct 31

Digital Gold or Physical Gold: 5 Differences That Decide Which Suits You

Gold has been a savings instrument in Indian households for generations, but the form it takes now shapes how useful it actually is. Physical gold sits in a locker and costs money to keep safe; digital gold sits in a demat account and costs nothing to store but carries its…

Times Life · Oct 31

Tesla and 113 other companies paid no current federal income tax, but they still aren’t the biggest threats to the federal deficit, think tank warns

The Institute on Taxation and Economic Policy found more than 700 profitable companies paid less than half of the 21% statutory corporate tax rate, the lowest rate in decades.

Fortune · Oct 30

Your 401(k) Looks Healthy — But Have You Calculated What Taxes Could Take?

A $750,000 401(k) balance looks like a serious retirement accomplishment. Unfortunately, your account statement doesn’t include a preview of your future tax bill. If you built that balance with traditional pretax contributions, the IRS still expects its share when you withdraw the money. Your retirement account shows how much you’ve…

The Free Financial Advisor · Oct 30

Jared Polis Warns Colorado's Progressive Tax Ballot Measure Could 'Cripple' the Economy

Voters in Colorado will decide a pair of ballot initiatives next week that could secure the state's low-tax reputation or shatter it.

Reason · Oct 29