The 2024 Union Budget reformed India’s income tax system, introducing new tax slabs and increased standard deductions. These ...

The IRS makes changes to federal tax brackets and the standard deduction to account for inflation each year, which could ...

Although the typical deductions for investment in the tax-saving instruments such as PPF, ELSS, KVP and NSC, have been phased ...

Part of being an American is looking toward Tax Day with either dread or anticipation — no matter how far out it is. Will you ...

Come tax season, there’s probably one thing on your mind: Not paying a cent more than you’re obligated to when you f ile your taxes. Luckily, Uncle Sam allows you to reduce your tax burden by lowering ...

The benefit of the sales tax deduction, if any, is dependent upon the amount of other qualified tax deductions available to you.

Freelancers or gig workers can delay billing until 2025 to reduce 2024 taxable income. W-2 employees may be able to defer ...

In India, taxpayers can save on tax by claiming deductions on the expenditure they incur for their children. As per the Income Tax Act, individuals can avail of tax deductions on these expenses. In ...

Learn about the best tax write-offs for small businesses and self-employed individuals to maximize your deductions and reduce ...

ITAT Chennai held that disallowance of claim under section 80IA (4) of the Income Tax Act justified since assessee is engaged in only collection and transportation of solid wastes and is not engaged ...

Although the typical deductions for investment in the tax-saving instruments such as PPF, ELSS, KVP and NSC, have been phased ...

Tax deduction refers to claims made to reduce your taxable income, arising from various investments and expenses incurred by a taxpayer. Thus, income tax deduction reduces your overall tax liability.