The new law aims to replace the long-standing Income Tax Act, 1961, with clearer language, simpler rules, and easier ...

You must file a federal tax return if your income meets the IRS filing threshold for your age and filing status, if you ...

For individual taxpayers filing ITR-1 and ITR-2, the original due date will remain 31 July, ensuring that salaried ...

Wondering what tax relief you qualify for? Learn about IRS tax relief programs, credits, deductions and payment options based ...

The dispute involved taxing unexplained increases in partners capital in the firms assessment. The Tribunal affirmed that such additions, if any, can only be examined in the hands of partners and not ...

The Income Tax Act, 2025, simplifies direct taxes, removing ambiguities and thus reducing the scope of legal actions.

Budget 2026 approaches with taxpayers focused on the income tax rebate. Experts anticipate changes to Section 87A, potentially increasing limits or introducing gradual tapering. The rebate aims to ...

With the discontinuance of the use of the term ‘assessment year’ in the Income-tax Bill, now the term ‘tax year’ will now be used in relation to the rate or rates of income-tax also.