Financial gifts are a well-known category of non-taxable income. That's due in part to the generous annual federal gift tax limit. For example, you can give up to the limit to friends, family ...

You're not entirely out of luck if you don't live in one of the 13 states where retirement income isn't taxed. At least some retirement income is exempt from income taxes in many other states. For ...

In a major relief for the middle class, Finance Minister Nirmala Sitharaman announced that individuals earning up to Rs 12 ...

For example, a taxpayer who files as single with $35,000 in taxable income would fall in the 12% bracket. But they would pay only 10% on the first $11,925 and 12% on the rest. Married taxpayers ...

The old tax regime, which remains unchanged in the 2025 Budget, allows taxpayers to claim various exemptions such as House Rent Allowance (HRA), deductions under Section 80C (like for life insurance ...

Imputed earnings refer to income that is assigned to an individual by a government agency or a court, even if they do not ...