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 — ...

Which states tax Social Security? Most states don't tax Social Security but some do. Here's which ones they are, and how they ...

Revising the method for determining the annual value of a property, the bill mandates that the annual value will be ...

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.

Are you left scratching your head about the changes in tax slabs in the new regime announced in Union Budget 2025? Wondering ...

Tax credits for homeowners don't require you to itemize. They directly reduce the amount of taxes you owe, and you can ...

For the 19th consecutive year, the Earned Income Tax Credit (EITC) has launched the "Awareness Day" campaign to provide tax ...

Old Tax Regime vs New Tax Regime The better option between the two income tax slabs depends on your annual income and the benefits you may receive. It is crucial to thoroughly research before ...

With tax season underway, here's what you need to know about tracking your tax refund and your new 2025 tax brackets.

Millions of taxpayers face paying more income tax due to frozen tax allowances. We explain how income tax is calculated.

Your annual income is listed in Box 1 of the W-2 form you receive from your employer. While that number is a helpful starting point to determine your gross income, your taxable income may be lower ...