Income Tax

Introduction This essay is an attempt by an economic-leftist to introduce his Libertarian friends to some philosophical & economic arguments which challenge the famous Libertarian accusation that taxation is theft. Because I’ve come to view Libertarians quite favorably due to their positions on some of the most important issues of the…

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A Tennessee story — It’s tax time in Nashville, Tennessee, and that usually reminds me of a colorful character from our recent past. Of course, everyone here in Nashville is a musician, and most of us hate paying taxes, but this fellow took both concepts farther than most of us. His name was Tupper Saussy. Tupper Saussy (1936–2007) was…

How to file taxes and get your refund for free. After Covid-19, people need relief and anything to be gotten for free is a relief for many in so many ways. Unless income taxes are done by the taxpayer, it has become very costly to get income taxes prepared by…

All software is NOT the same! — Once upon a time, the great majority of American taxpayers went to an accountant in April to have their taxes computed if their return was at all complicated. I know because I was one of them. But then when my accountant made a stupid mistake two years running, I fired…

India is a country of Love, respect, and Gratitude. And people express it by giving gifts occasionally. Some such occasions are Marriage, Anniversaries, Birthdays, and festivals. While everyone loves receiving the gift, it is also a way to escape tax liability by a person giving the gift. But Income Tax…

A superwoman may superannuate from her job but she can never retire. At best, she can re-attire or re-tyre herself for her next foray. Who knows where her free-flight may take her? — “Retirement is not the end of the road. It is the beginning of the open highway.” — Unknown Poonam Khaira Sidhu superannuated yesterday[1] from the Indian Revenue Service (IRS) after nearly 36 years of service. Her final posting was Principal Director General of Income Tax (Administration), New Delhi. …

Learn the crucial distinctions between tax credits and deductions. Maximize your tax savings with this informative guide. — Tax season is a time of year when many people are scrambling to find any tax breaks they may be eligible for. This can be a confusing process, especially if you don’t know the difference between tax credits and tax deductions. In this article, we will explore the difference between…

The finance ministry has proposed amendments to the taxation for investments made from 1st April 2023. One surprise and sweeping amendment adversely impacting the mutual fund investors. Many market participants are saying it’s a drafting mistake! While the fine print is yet to emerge, 4 points below cover the key…