To promote infrastructure development, section 80IA was brought into Income-tax Act, 1961. Sections 80HHE, 10A and 10AA were ...

The proposed new bill is projected to have 23 chapters, 16 schedules, and approximately 536 clauses, a significant reduction ...

The Income Tax Act 2025 will replace the current Income Tax Act 1961. As the current income tax laws will change, many ...

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 Internal Revenue Service has set its calendar for the upcoming tax-filing season: Americans can start submitting their income-tax returns on Monday, Jan. 27. As people send in their 2024 ...

In special situations, you may have to file regardless of your income. If you have net earnings of at least $400 from self-employment, for example, you’re required to file taxes. If you earn at ...

April 15 is also the deadline in the majority of states that collect income tax. Residents and businesses in parts of the country declared FEMA disaster areas may have more time to file state and ...

Your payday could get a bump this year now that the Internal Revenue Service's updated income tax brackets and higher standard deductions have taken effect. Depending on your income level ...

FreshSplash / Getty Images Ordinary income is income earned by an entity or an individual that is taxable at marginal tax rates. It can include wages, salaries, tips, bonuses, commissions ...

Union Budget 2025: Last year, Sitharaman in her budget speech proposed a new tax structure under the new income tax regime. Finance minister Nirmala Sitharaman will present the Union Budget on ...

When tax time rolls around, figuring out which types of income you need to report to Uncle Sam can be confusing. Adjusted gross income, taxable income, investment income, interest income — all ...