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 ...

For example, if you receive benefits due to a disability, different rules may apply. Furthermore, if you have other types of non-taxable income or specific circumstances such as receiving lump-sum ...

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

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

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 ...