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

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

With the tax-filing season in progress, you probably have wondered how you compare with other Arizonans. Here are some numbers supplied by the IRS.

In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in the New Tax Regime. Effectively, individuals earning up to Rs 12 lakh will ...

Under the new bill, the draft proposes a standard deduction of Rs 75,000 or the salary, whichever is less, where income is ...

Being older has its benefits. Here are two items exclusively for older adults that can help them save on taxes.

As tax season approaches, it's essential to determine whether you're required to file a tax return. While most U.S. residents ...

The new tax regime – the default – offers a basic exemption limit of Rs 3 lakh for all individuals, regardless of age. This ...

Rs 1 lakh TDS threshold for senior citizens on fixed deposit interest reduces procedural hassles but doesn't exempt them from ...

Union Finance Minister Nirmala Sitharaman announced during her budget speech on February 1, 2025, that individuals with ...

By lowering your taxable income, deductions lower the taxes you owe, though not directly like a tax credit. The standard deduction is the fixed amount set by the IRS that taxpayers can subtract ...

Prediction-market winnings are taxable income, even if platforms ... it needs to itemize their deductions. Relatively few people do that, and instead take the standard deduction.