The Income Tax Department explained the tax implications of monetary gifts for individuals and HUFs, referencing Section 56(2 ...

It is important for nonprofit organizations to understand how these changes will affect donors and to talk with them now to ...

When you sell your home and make a sizable profit, you’re likely required to pay capital gains tax. But U.S. Rep. Marjorie Taylor Greene (R-GA) is aiming to change that. Greene recently introduced the ...

The Bureau of Internal Revenue (BIR) has extended the deadline for submission of documentary requirements for those availing of estate tax amnesty until June 30. The BIR issued Revenue Regulations No.

Each week, in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on topics submitted by readers. This week, she’s looking at questions on estate and gift taxes. ...

The Bureau of Internal Revenue (BIR) launched an “Al Capone-style” tax fraud audit of contractors linked to alleged anomalous flood control projects, aligning with President Ferdinand Marcos Jr.’s ...

Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. (Courtesy: Romeo "Jun" Lumagui Jr. / Facebook) The Bureau of Internal Revenue (BIR) is launching an investigation into contractors ...

Filing your income tax return (ITR) is a crucial financial responsibility that ensures compliance with tax laws and opens the door to various financial benefits, including refunds and smoother loan ...

We estimate income and taxes for the wealthiest group of US households by matching Forbes 400 data to the individual, business, estate, and gift tax returns of the corresponding group in 2010–2020. In ...

Giving or receiving financial gifts can be a generous act, but it often comes with tax responsibilities that many overlook. The rules around tax filings after financial gifts are more complicated than ...

New Delhi [India], August 24 (ANI): India outbound investments has jumped by 67.74 per cent to USD 41.6 billion in FY2024-25 from USD 24.8 billion in FY2023-24, as per a new EY report. Advertisment ...

Indian Prime Minister Narendra Modi will likely face tough negotiations with states, who are expected to shoulder the bulk of revenue losses from his surprise move to lower consumption taxes within ...