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

In a fair tax system, everyone pays their fair share, no one pays more than they can afford, and the government raises enough ...

Tax season opened on Monday, January 27, meaning Americans are now able to file and pay their tax returns for 2024 with the Internal Revenue Service (IRS).

The Union Budget 2025 has introduced new income tax slabs, bringing relief to taxpayers. Finance Minister Nirmala ...

3. CIT (A) deleted the addition holding that the discount paid by the assessee to CFSA cannot be held to be interest and therefore, provisions of Section 40 (a) (i) of the Act would not apply.

In the recent ruling ITAT held that deduction u/s 54B would not be applicable in case land was not used for agricultural purposes in two years preceding date of transfer.

Yes, it is. You get a Standard Deduction of Rs 75,000 — but only if you’re salaried or a pensioner choosing the new tax ...

The Budget 2026-27 also seeks to rationalise TDS/TCS provisions to alleviate compliance challenges and other relevant changes ...

In the Budget 2025, there have been new income tax slabs introduced in the new tax system. Finance Minister Nirmala ...

The Budget 2025 has proposed raising the Tax Deduction at Source (TDS) limit on interest earned from bank fixed deposits (FDs ...

China tax brief for January 2025, we spotlight policies and measures just announced or scheduled for implementation.