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

All new car and truck buyers who take out a car loan won't qualify for the tax deduction. Much will depend on your income, ...

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 phase out ...

As the Republican Party’s signature economic bill heads to the Senate after being passed by the House, one of the key ...

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

In a decision bringing clarity to Section 54F deductions under the Income Tax Act, the Delhi High Court has clarified that ...

One of the most contentious issues in the “big, beautiful” tax bill is how much to raise the state and local tax deduction, ...

Tax breaks on overtime pay and tipped earnings passed the House on May 22, 2025, as part of the “One Big Beautiful Bill Act” (H.R. 1). The ...

As the ITR filing season for AY 2025–26 kicks off, NRIs have the option to reduce their tax burden through a lesser-known ...

The Income Tax department on Tuesday extended the due date for filing ITRs for Assessment Year (AY) 2025-26 to September 15 from July 31. The extension applies to individuals, HUFs and entities who do ...

House Republicans passed a bill to raise the ‘SALT’ deduction cap to $40,000. Here’s who would benefit from the change.