Meanwhile, resident individuals are also entitled to a rebate of up to 100 per cent of income tax subject to a maximum limit depending on tax regimes as under: ₹ 12,500 for income up to ₹ 5 lakh under ...

Also, the return-filing process needs to be simplified for NRIs, who are facing several challenges as tax refunds are not ...

While the old regime allows for various exemptions and deductions, the new regime offers reduced tax rates with limitations ...

As Budget 2025 approaches, whispers of scrapping the old income tax regime have grown louder. Has the old regime lost its ...

President-elect to enter office a felon as judge orders ‘unconditional discharge’ - President-elect appears virtually in ...

The Biden administration on Friday extended temporary humanitarian protections for nearly 1 million immigrants living in the ...

The Child Tax Credit for 2024 is a tax benefit that provides financial relief to families with qualifying dependent children.

These adjustments, announced by the IRS in October 2024, reflect an approximately 2.8 percent increase in income thresholds ...

A retired individual with ₹5 lakh short-term capital gains and ₹2 lakh interest income will face a 20% tax on ₹2.5 lakh after ...

The Internal Revenue Service said on Friday it will launch the 2025 tax filing season on Jan. 27 with expanded tools that ...

Treasury’s Office of Tax Analysis estimates the top 0.1% of earners would get a tax cut of $314,000 under a full extension of ...