The IRS issued the 2025 depreciation limitations for passenger vehicles, including those for which bonus depreciation is applied.

What if someone earning above Rs 12.75 lakh annually chooses the old regime and claims the maximum deductions? Will it result in tax savings? This article explores the key deductions available under ...

Aggarwal said he also expects an increase in the tax deduction limit on home loan interest from current Rs 2 lakh to make homeownership more affordable. Besides, granting industry status to the ...

Specific conditions determine eligibility under Sections 80C, 80D, and 10(10D) of the Income Tax Act. Premium limits: To claim tax deductions under term insurance, the annual premium paid should not ...

Despite all that work at home ... you could claim up to $2,500 in deductions. There isn’t a limit on how much you can deduct. Disaster relief:Americans affected by California wildfire get ...

Confederation of Indian Industry (CII) Telangana chairman, Sai D Prasad, called for an increase in income tax exemption limits as well as a 100% interest deduction on home loans to spur the realty ...

The contribution limits for individual retirement accounts (IRAs) didn't change in 2025. The modified adjusted gross income thresholds concerning the deductible portion of traditional IRA ...

40,000. However, the amount of deduction varies for different age groups. For senior citizens, aged sixty to eighty years, the benefit extends up to Rs 60,000 for medical expenses. For those aged ...

TSB Bank has shed light on crucial savings limits rules that all customers should be aware of. The topic surfaced when a customer got in touch over social media to inquire about making payments.

In a country with little social security, taking away deductions in the same of tax code simplification is contributing to financial vulnerability ...

adding to raise the deduction limit for housing loan interest repayment from the existing Rs 2 lakh to Rs 3 lakh. Will the government include these popular deductions and tax benefits under the new ...

As the Union Budget 2025 approaches, there’s growing anticipation among salaried employees and pensioners for a potential rise in the standard deduction limit. Experts predict this adjustment ...