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A service for finance industry professionals · Monday, April 28, 2025 · 807,278,999 Articles · 3+ Million Readers
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Income Tax News Monitoring

  • Published on Apr 27, 2025

    Reforming taxation for salaried class

    Listen to article KARACHI: The tax system in Pakistan is constitutionally required to be fair, just and equitable. However, a review of the current system reveals a concerning trend: those who are tax compliant are increasingly burdened, while those who …

    Source: The Express Tribune - Indeterminate
  • Published on 01:17 GMT

    The TPO’s uphill battle

    The Federal Bureau of Revenue (FBR) has quietly earned a name -- or rather, a bad name -- for its performance over the years. The country’s tax-to-GDP ratio was recorded at around 9.6 per cent and 10.8 per cent in the first and second quarters, …

    Source: The News International - Indeterminate
  • Published on 01:34 GMT

    Rescuing Pakistan’s economy

    Once a rising economic power in South Asia, Pakistan now finds itself at the bottom of the regional ladder. Fifty years ago, the average Pakistani had a higher income than his South Asian peers. Today, he earns about half as much. What went wrong, and what …

    Source: Dawn - Center-left
  • Published on Apr 24, 2025

    Several new items come under TCS as I-T widens tax net

    A variety of luxury items, including wristwatches, handbags, shoes, sunglasses, art, paintings, and home theater systems, priced over Rs 10 lakh will now be subject to tax collected at source (TCS). This policy change is part of the government's …

    Source: The Economic Times - Pending
  • Published on Apr 23, 2025

    Catch the nouveau riche! Income tax dept casts a new dragnet

    India is spawning a new rich class, especially in its small towns, which splurges on personal luxury goods with abandon but often escapes the income tax net. But not anymore. The July 2024 Budget had proposed to bring the expenses made on luxury goods by …

    Source: The Economic Times - Pending
  • Published on Apr 27, 2025

    ITR Filing 2025: You will get your Form 16 in new format this year – Know why

    As the new financial year has already started from April 1, taxpayers across the country are gearing up to file their Income Tax Returns (ITR) for the previous year. The Income Tax Department is expected to notify the filing forms for the financial year …

    Source: Financial Express - Neutral
  • Published on Apr 23, 2025

    Pay new income tax TCS of 1% on these luxury goods above Rs 10 lakh; CBDT issues notification

    The Central Board of Direct Taxes (CBDT) has issued a notification specifying the list of luxury goods on which tax collected at source (TCS) will be levied. The CBDT has issued two notifications in this regard. The first notification deals with the nature …

    Source: The Economic Times - Pending
  • Published on Apr 26, 2025

    Gross direct tax kitty swells 16%, crosses Rs 27L crore in FY25

    India's gross direct tax collections surged 15.6% to exceed Rs 27 lakh crore in the last fiscal year, driven by increases in both income tax and corporation tax. Net direct tax collection aligned with targets, reaching just under Rs 22.3 lakh crore, up …

    Source: The Times of India - Center-right
  • Published on Apr 26, 2025

    RenaissanceRe Holdings Ltd. (NYSE:RNR) Q1 2025 Earnings Call Transcript

    RenaissanceRe Holdings Ltd. (NYSE:RNR) Q1 2025 Earnings Call Transcript April 24, 2025 Operator: Good morning. My name is Madison, and I will be your conference operator today. At this time, I would like to welcome everyone to the RenaissanceRe Holdings …

    Source: Insider Monkey - Neutral
  • Published on Apr 26, 2025

    Govt to appoint officials from admin cadre in new Revenue Management Division

    The government is likely to appoint officials from administration cadre alongside existing employees in the proposed Revenue Management Division, according to a draft law recently approved by the Advisory Council. According to the draft law which lays out …

    Source: United News of Bangladesh - Indeterminate
  • Published on Apr 26, 2025

    State pensioners urged to refuse taking DWP payment 'if you can afford to'

    State pensioners have been urged to consider DEFERRING their Department for Work and Pensions (DWP) payments. The advice comes as personal finance experts try and encourage state pensioners to escape the claws of HMRC. The country's poorest pensioners, …

    Source: Birmingham Live - Neutral
  • Published on Apr 25, 2025

    Sensient Technologies Corporation Reports Results for the Quarter Ended March 31, 2025

    MILWAUKEE–(BUSINESS WIRE)–Sensient Technologies Corporation (NYSE: SXT), a leading provider of flavors and colors for the food, pharmaceutical, and personal care markets, today reported financial results for the first quarter ended March 31, 2025. First …

    Source: The AI Journal - Pending
  • Published on Apr 24, 2025

    Nanalysis Announces Fourth Quarter and Full Year 2024 Results

    Company Achieves Record Quarterly Revenue of $12.3MM and Adjusted EBITDA of $1.8MM Reports Record Annual Revenue of $45MM and Adjusted EBITDA of $2.8MM CALGARY, AB, April 24, 2025 /PRNewswire/ - Nanalysis Scientific Corp. ("the Company", …

    Source: WFMZ - Pennsylvania - Neutral
  • Published on Apr 24, 2025

    Luxury Purchases Over Rs 10 Lakh Now Under Tax Lens: Experts Warn of Compliance Hurdles

    In a significant move to curb black money and bring high-value luxury spending under the tax net, the Central Board of Direct Taxes (CBDT) has enforced a 1% Tax Collected at Source (TCS) on the sale of specified luxury goods priced above Rs 10 lakh. The …

    Source: ETCFO.com - Pending
  • Published on Apr 24, 2025

    Whirlpool Expands Margins in First-Quarter; Full-Year Guidance Unchanged

    Expanded margins year-over-year driven by previously announced pricing actions and cost take out Q1 net sales decline of (19.4)% due to the Europe divestiture; organic net sales(1) growth of 2.2% driven by very strong SDA Global and MDA Asia businesses Q1 …

    Source: The Bulletin - Kansas - Neutral
  • Published on Apr 24, 2025

    Tax filing gets easier: New Form 16 format may change how you file ITR, claim refund

    Salaried employees who file their income tax returns (ITRs) every year should be aware that the tax department has introduced some changes in the format of Form 16 related to tax deduction and perquisites. The changes effected in the Form 16 format will …

    Source: Financial Express - Neutral
  • Published on Apr 24, 2025

    Watches, paintings, statues, glasses, shoes, horses; tax to be levied on purchase of luxury items over Rs 10 lakh, check ...

    The list released on April 22 includes watches, paintings, statues, antiques, coins, stamps, pots, helicopters, luxury handbags, sunglasses, shoes, expensive sportswear, home theatre systems, and racing/polo horses. According to a notification from the …

    Source: DNA India - Right-wing
  • Published on Apr 24, 2025

    Luxury Buys Get Costlier: 1% TCS on Watches, Bags, Art & More

    New Delhi: The Income Tax Department has officially notified a 1% Tax Collected at Source (TCS) on the sale of luxury items priced over ₹10 lakh, effective immediately. This move, originally announced in the July 2024 Budget, aims to enhance tax …

    Source: The Kashmir Monitor - Neutral
  • Published on Apr 23, 2025

    Stewart Reports First Quarter 2025 Results

    Total revenues of $612.0 million ($608.9 million on an adjusted basis) compared to $554.3 million ($547.3 million on an adjusted basis) in the prior year quarter Net income of $3.1 million ($7.0 million on an adjusted basis) compared to net income of $3.1 …

    Source: WFMZ - Pennsylvania - Neutral

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