ITAT Delhi rules no books or vouchers are needed for Section 44AD income, deleting a Rs. 20.58 lakh cash deposit addition, citing a binding ...

ITAT Kolkata allows Mintu Mallick's appeal, remanding the case to the AO. It directs re-computation of income using the correct turnover figure available on ...

Futures and Options (F&O) trading income is treated as non-speculative business income under Indian tax laws. Here’s how it ...

Congress is debating whether to increase the cap on state and local tax (SALT) deductions, which would generally decrease the ...

The budget bill championed by President Donald Trump could complicate next year’s tax filing season after the IRS lost ...

The Department of Revenue and Taxation, together with the Department of Administration, announced the release of the first batch of 2024 income tax refunds, totaling $27,818,380.35.

The Income Tax Department has introduced stricter rules for filing income tax returns (ITRs), targeting individuals and ...

Queens lawmakers are celebrating the passage of a bill that would provide property tax exemption for veterans with a ...

Tax deductions are subtracted from your taxable income, thereby lowering the amount of tax you owe. You can choose the standard deduction or itemize your deductions on Schedule A of Form 1040 or ...

If your income was $84,000 or less in 2024, you may be able to file your taxes through IRS Free File, a program in which online tax prep companies partner with the IRS to provide free services ...

Late on May 18, the House Budget Committee advanced the “One Big Beautiful Bill Act,” a comprehensive 1,116-page legislative package that includes a provision: a 5% excise tax on all ...

The property tax deduction is great for homeowners. Here's how it works in 2024 and 2025 and what you can do to save money.