Millions of taxpayers face paying more income tax due to frozen tax allowances. We explain how income tax is calculated.

Ever since the government introduced the new tax regime, a major question has arisen before the taxpayers which tax system is ...

If you think you need to file a return this year, maybe for the first time, you're likely wondering where to start.

The Internal Revenue Service (IRS) announced the annual inflation adjustments for fiscal year 2025. The PDF of Revenue ...

HRA is a major component that can tilt the balance in favour of the old tax regime. The income tax rules specify ... whether they meet these conditions before deciding on their tax regime for ...

What is the standard deduction? It is a fixed amount of money deducted from amount automatically deducted from an ...

SBI suggests switching all taxpayers to the New Tax Regime to boost compliance and income before Budget 2025. Discover more ...

With tax season underway, here's what you need to know about tracking your tax refund and your new 2025 tax brackets.

Individuals can claim two self-occupied properties as NIL taxable income. TDS on rent limit increased ... allowing higher limits before tax deductions apply. Sitharaman said, "In the budget ...

It's time to get your finances in order because Tax Day will be here before you know it. Tax Day, the annual day when individual income tax returns are due to the federal government, is April 15.

Tax season's officially open, but does everyone need to file taxes? No! Here's who needs to file taxes and who may want to ...