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Congress treats one family as supreme, BJP people: Rajnath

IndiaTimes Sunday, 7 April 2024
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United States Congress United States Congress Legislative branch of U.S. government

Kiren Rijiju on pro tem Speaker row: 'Feel ashamed that Congress talks like this...'

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Supreme Court Rejects Challenge to Tax Law on Foreign Investments [Video]

Supreme Court Rejects Challenge to Tax Law on Foreign Investments

Supreme Court Rejects , Challenge to Tax Law on, Foreign Investments. On June 20, the Supreme Court upheld a tax on foreign corporate investments enacted by a Republican-controlled Congress under former President Donald Trump. On June 20, the Supreme Court upheld a tax on foreign corporate investments enacted by a Republican-controlled Congress under former President Donald Trump. NBC reports that the case had attracted scrutiny when conservative Justice Samuel Alito refused to recuse himself despite ties with one of the challenging lawyers. The case revolved around whether an individual can be forced to pay taxes on investments in foreign-owned companies regardless of if they were a source of income. The case revolved around whether an individual can be forced to pay taxes on investments in foreign-owned companies regardless of if they were a source of income. According to the 16th Amendment of the Constitution, Congress has the power to "collect taxes on incomes.". In the case, Charles and Kathleen Moore claim they were unfairly taxed on their $40,000 investment in an India-based company called KisanKraft Machine Tools. . While the company made a profit, the Moores claim that they received no dividends and that the money was reinvested in the business. As a result, the Moores did not pay taxes between 2006 and 2017 on what the U.S. government later defined as income from their investment. . Due to a provision that was part of a major tax law enacted by former President Donald Trump in 2017, the Moores paid $15,000 in additional taxes. They later sought a refund for that payment, arguing that they had been unlawfully taxed based on an increase in the value of a capital investment not qualifying as income. The couple's challenge was rejected by the Supreme Court 7-2

Credit: Wibbitz Top Stories    Duration: 01:30Published

Bharatiya Janata Party Bharatiya Janata Party Indian political party

'Open to all kinds of investigations', says Axis My India chief Pradeep Gupta amid exit poll controversy on alleged stock market manipulation

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What is the controversy over appointment of Bhartruhari Mahtab as pro-tem Speaker?

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Rajnath Singh Rajnath Singh 29th Defence Minister of India since 2019

Better to practice Yoga than depend on medicines: Rajnath Singh on 10th International Day of Yoga

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PM Modi, Amit Shah, other BJP leaders extend wishes to President Murmu on her 66th birthday

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NDA meet held at Rajnath Singh’s residence to discuss House strategy, Speaker election

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