Medical expenses can be a major tax deduction, but only if they go over 7.5% of your adjusted gross income, which is ...

W ith tax season officially underway, you'll need to know the standard deduction amount you can claim for 2024. After all, most taxpayers opt to take the standard deduction rather ...

Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and benefits available to you to reduce your ...

Finance Minister Nirmala Sitharaman implemented changes to the slabs, rates, and rebates under the New Tax Regime to ...

"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 ...

While adding to your family is an exciting time, a new child also creates some costs you'll want to offset whenever possible. One money-saving move involves revisiting your tax situation. If ...

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

Central Board of Direct Taxes (CBDT) has clarified that marginal relief applies to incomes up to Rs 12.75 lakh. This means ...

Learn what happens if you don't file your taxes. Discover the consequences, penalties, and how to address unfiled tax returns ...

Save more tax in old tax regime by claiming up to Rs 8.5 lakh tax deductions for a salary income up to Rs 25 lakh. Moreover, ...

For salaried individuals and pensioners, the standard deduction has been increased to Rs 75,000. This effectively raises ...