The standard deduction is essentially a flat-dollar, no-questions-asked reduction to your adjusted gross income ... Property ...

As tax season approaches, it's essential to determine whether you're required to file a tax return. While most U.S. residents ...

Each year the Internal Revenue Service (IRS) sets new income thresholds for the various tax brackets to keep up with ...

Union Finance Minister Nirmala Sitharaman on Saturday announced a major relief for the salaried class. The salaried class ...

Being older has its benefits. Here are two items exclusively for older adults that can help them save on taxes.

Standard deduction is a flat amount which is automatically deducted from an individual's annual income. This reduces the total taxable income and therefore, lowers the tax liability.

Ans. Earlier the limit of income for nil tax payment was Rs 7 lac. By increasing this limit to Rs 12 lakh around one crore assessees who were earlier required to pay tax varying from Rs 20,000 to Rs ...

In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in the New Tax Regime. Effectively, individuals earning up to Rs 12 lakh will ...

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

"By virtue of the rebate only taxpayers with incomes up to Rs 12 lakh under the new regime would not have to pay any tax ...