The New Income Tax Bill, 2025 set to take effect from April 1, 2026, represents a comprehensive overhaul of the existing tax framework. It consists of 536 clauses, 16 schedules, and 23 chapters, ...

“The benefits of the deduction go primarily to high-income taxpayers because high-income taxpayers tend to itemize more often, and the value of the deduction increases with the price of a home,” ...

Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These ...

Social Security benefits are an important source of retirement income, and no one wants to lose this money to taxes.

To strengthen the tax system in the country, the government has changed the tax slab system under the new tax regime. It will ...

The new income tax regime for FY 2025-26 offers significant benefits, including zero tax for income up to Rs 12 lakh and ...

you could also face state income taxes on Social Security benefits. Fortunately, the list of states that tax Social Security is shrinking, and only nine will do so in 2025. “The list of states ...

Social Security benefits cover a range of payments, including disability benefits. However, if you receive Social Security ...

Budget 2025 offers a welcome increase in tax rebates, but it’s important to know where the benefits apply and where they ...