CNBC4d
5 easy ways to lower your taxable income
That, in turn, is based on your taxable income and filing status. But there are several ways you can lower your taxable income without taking a pay cut — from putting more into retirement to ...
Many don't know they can claim valuable tax credit worth up to $7,830 for some families
The federal earned income tax credit celebrates 50th anniversary. Yet, IRS estimates one in five eligible taxpayers miss out ...
Yahoo Finance3d
What is the earned income tax credit, and do you qualify?
Yes, investment income can disqualify you from claiming the 2024 federal earned income tax credit, but only if it exceeds $11,600. Investment income includes interest, dividends, capital gains ...
No income tax up to Rs 12 lakh: What it means if you earn more
In a major relief for the middle class, Finance Minister Nirmala Sitharaman announced that individuals earning up to Rs 12 ...
What does no income tax up to ₹12 lakh really mean? Decoding differences between tax rebate, deduction & exemption
Finance Minister Nirmala Sitharaman raised the nil income tax slab to ₹12 lakh for salaried individuals. This entails a tax ...
Tax Guru8d
Is Rs 15 Lakh Salary Taxable Only on Income Above Rs 12 Lakh?
The next slab is Rs 4-8 lakh where the tax rate is 5%, followed by 10% in the Rs 8-12 lakh slab, 15% in the Rs 12-16 lakh slab, 20% in the Rs 16-20 lakh slab, and 25% in the Rs 20-24 lakh slab. It’s ...
The Financial Express8d
Your up to Rs 12 lakh annual income is not tax-exempt as wrongly perceived – it’s taxable! Tax structure decoded here
Income up to Rs 12.75 lakh is tax-free under the new tax regime for FY 2025-26, thanks to enhanced rebates and deductions — ...