"Generally, a standard deduction is the best choice for taxpayers whose total itemized deductions do not add up to more than ...

The 2017 Tax Cuts and Jobs Act (TCJA) is set to expire this year, yet only 45% of Americans are aware of it, according to the ...

Tax relief is an avenue to explore if you owe more money in taxes than you can reasonably shoulder. One good way to reduce ...

In a notification issued on 23 April 2025, the CBDT stated that taxpayers cannot claim deductions for settlement payments arising from legal proceedings under the Securities and Exchange Board of ...

Under the new tax regime, there is a small tax exemption of Rs 3,500 per financial year available on the interest earned from ...

The standard deduction in income tax is a fixed amount that salaried individuals and pensioners can claim to reduce their taxable income, without having to list out expenses or submit proof of ...

Other commonly available deductions internationally for salaried class include those for house rent, mortgage interest, life ...

The old tax regime offers more deductions and exemptions compared to the new tax regime, making it a preferred choice for individuals who can take advantage of these benefits. Additionally, the Budget ...

Taxpayers will soon be able to file their income tax returns for the recently concluded financial year. The online portal is ...

Due to an error in Budget 2025, a salaried employee may not be able to avail of the standard deduction of Rs 75,000 from ...