IRS software compares these tax forms to your return, and it can be "flagged for audit" when there's a mismatch, explained ...

Institute Management Committee of Government ITI Peth Vs ITO (ITAT Pune) Income Tax Appellate Tribunal (ITAT) Pune allowed an appeal filed by the Institute Management Committee (I ...

Note: Staying under these limits per recipient exempts ... Supplemental Security Income payments are also tax-exempt. Disability compensation or pension payments from the Department of Veterans ...

Under the new bill, the draft proposes a standard deduction of Rs 75,000 or the salary, whichever is less, where income is ...

These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

In her Budget 2025 address, FM Nirmala Sitharaman announced modifications to the new tax regime, such as the exemption of up ...

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 ...

As per Budget 2025, starting April 1, 2025, all insurance policies acquired from an IFSC registered office will receive tax ...

The latest clarification classifies ULIPs as capital assets, with proceeds taxed under ‘capital gains’ instead of ‘income ...

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 ...

Conclusion: Assessee was entitled to the exemption under Section 10A as ex-post facto approval granted by the RBI, the ...

Budget 2025 introduces key personal tax reforms focusing on Viksit Bharat. Amendments include a new income-tax bill, revised ...