You may still be able to slash your taxable income by up to $17,300 before filing—here's how
As with an IRA, you have until April 15 to make a 2024 contribution. For the 2024 tax year, individuals can contribute up to $4,150 if they have self-coverage and up to $8,300 for family coverage. If ...
Interest Earnings Last Year May Boost Your Tax Bill—Here's What You Can Do To Lower It
High-yield savings accounts and CDs were much more profitable in 2024 than in prior years, potentially leaving some taxpayers with a larger tax bill. Experts say there are some ways to defer or offset ...
Savvy Senior: What’s the federal income tax threshold?
Whether you are required to file a federal income tax return this year will depend on how much you earned last year, plus a ...
New Income Tax Bill 2025: FM To Simplify 'Tax Year'; Here Are List Of 10 Key Changes Proposed In Draft
Under the new bill, the draft proposes a standard deduction of Rs 75,000 or the salary, whichever is less, where income is ...
CBDT tax calculator: If your annual salary is Rs 15 lakh, which tax regime should you opt for - new tax or old tax?
In her Budget 2025 address, FM Nirmala Sitharaman announced modifications to the new tax regime, such as the exemption of up ...
New Tax Regime 2025: These exemptions, deductions will be available for taxpayers
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 ...
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Telangana HC condones delay in filing Form No. 10B
The Telangana High Court reviewed a writ petition filed by Global Organisation for Development against the Commissioner of ...
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Personal Income Tax Changes in India Under the New Regime for FY 2025-26
India's Union Budget 2025-26 has introduced personal income tax changes under the new regime to spur middle-class spending & ...
Tax exemptions on ULIP: These investors are set to gain on taxes; check what Budget 2025 proposed
As per Budget 2025, starting April 1, 2025, all insurance policies acquired from an IFSC registered office will receive tax ...
ULIP tax treatment ambiguity cleared in Budget 2025 | Details here
The latest clarification classifies ULIPs as capital assets, with proceeds taxed under ‘capital gains’ instead of ‘income ...
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Explained: If Income Up To Rs 12 Lakh Is Tax-Free, Why The 10 Per Cent Slab?
For salaried individuals and pensioners, the standard deduction has been increased to Rs 75,000. This effectively raises ...
ULIP with annual premiums of over Rs 2.5 lakh to be taxed like equity MFs. Here’s what it means for policyholders
Budget 2025 has clarified that ULIPs where annual premiums exceed Rs 2.5 lakh a year or 10 percent of the sum assured will be ...