These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

The Union Cabinet has approved the New Income Tax Bill, which aims to replace the 1961 Act by simplifying direct tax legislation. This proposed bill, featuring clearer language and concise sentences, ...

Guam’s 2025 income tax filing season starts Monday, Jan. 27, the Department of Revenue and Taxation announced on Wednesday. DRT is reminding taxpayers that all filings for 2024 tax returns must ...

Finance Minister Nirmala Sitharaman, in her Union Budget 2025 speech, unveiled a transformative tax reform—India will ...

India will impose tax penalties of up to 70% on undisclosed crypto gains as part of new regulations under Section 158B of the Income Tax Act. Cryptocurrency traders in India may face significant tax ...

In the case of Charu Modi Bhartia Vs DCIT before the ITAT Delhi, the tribunal overturned a penalty levied under Section 271(1)(b) of the Income Tax Act. The penalty stemmed from the assessee’s refusal ...

India’s Test and ODI captain Rohit Sharma ... A 15-year-old fan, Yathaarrt Chhabria, wrote an emotional letter to the cricketer, expressing admiration for his achievements and urging him ...

A topic of regular discussion around Budget presentation and submission period is the statement from ... for agriculture income (an example). So, India Income Tax authorities should be ready ...

A frustrating thing about working hard to earn money is knowing the IRS will tax a portion of your earnings. Federal taxable income generally includes wages, tips, royalties, commissions ...

A seemingly routine ruling by India’s top tax officials went off like metal in a microwave. The government laid out a three-tiered system for taxing popcorn depending on if it is packaged or ...

A letter to the editor was posted on Jan. 10 in ... Water is projected to bring over $1 million a year in property tax to local governments. And the Edison development will likely provide more.