Aggrieved by the AO’s order, the society appealed to the NFAC, which dismissed the appeal in limine for non-prosecution. This led the cooperative society to file an appeal before the Income Tax ...

Will the standard deduction increase cut taxes on Social Security benefits? For context, the estimated average monthly Social ...

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phases out ...

The budget bill passed by the House includes a provision to quadruple the state and local tax deduction, a boon for some homeowners.

House committees labored for months on the bill, which underwent late changes to win over holdouts in the Republican conference. It exceeds 1,000 pages and is titled the “One Big Beautiful Bill Act,” ...

Answering a reference, the Supreme Court held that deductions under Sections 80-IA/80-IB of the Income Tax Act need not ...

Defying opposition from within his ranks, House Speaker Mike Johnson insisted late Wednesday that Republicans would march ...

A new tax proposal from President Donald Trump could give seniors a break, but critics say it comes at a high cost.The plan, ...

Increasing the $10,000 cap on the state and local tax deduction could benefit millions of tax filers. But a proposal to do just that has become a point of contention and a possible roadblock to House ...

7. He submitted that out of total CSR expenses, sum amounting to Rs.16,80,000/- was eligible for deduction under section 80G ...

Section 80C of the Income Tax Act, 1961, allows taxpayers to claim deductions up to ₹1.5 lakh from their total income. It is ...