Higher Income Brackets: For people with annual incomes above Rs 24 lakh, both regimes apply the same top tax rate of 30%. But ...

Senior citizen with pension income and mutual fund savings seeks advice on tax liabilities for Long-Term Capital Gains ...

Tesla reported $2.3 billion in U.S. income yet paid zero federal income tax. Over the past three years, the company earned ...

Rent income is an assessable head of income under the head 'Income from House Property' of the Income Tax Act, 1961, and ...

A recent Mumbai ITAT ruling offers relief to homeowners in redevelopment projects. The tribunal held that receiving a new ...

As per the Income Tax Department website, individuals with a taxable income and non-auditable accounts are required to submit ...

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 ...

You may be eligible for more than one filing status; compare them and choose the one that results in the lowest tax liability. You can reduce your taxable income by claiming deductions ...

As per a recent ruling by the Mumbai Income Tax Appellate Tribunal (ITAT), it was determined that transactions of this nature ...

UPI too falls under the purview of income tax laws and the department monitors these transactions, ensuring compliance.

ITAT Raipur held that disallowance under section 43B of the Income Tax Act towards unpaid VAT liability cannot be sustained since the amount was not claimed as an expenditure in P&L account.

The older tax regime offers considerable flexibility for taxpayers by enabling them to leverage available claims of exemptions and deductions fully.