By disclosing the assets owned in the foreign land in their income tax return (ITR), taxpayers can not only avoid legal issues but also contribute to the country's development at the same time.

NOIDA has received a tax exemption under Section 10 (46A) starting from assessment year 2024-25, allowing it to avoid income tax on public utility services.

Income Tax Calculations: Paying 0 income tax on a Rs 15 lakh annual salary may be a dream for many even though the new tax regime for the financial year 2025-26 allows a salaried-class taxpayer to pay ...

Indore (Madhya Pradesh): CA Deepak Maheshwari, a senior practitioner of Income Tax, has said that before filing the return, it is necessary to match vital information. He said that while filing ...

Sikkim is the only Indian state where eligible native residents can legally earn crores without paying income tax, thanks to special constitutional provisions and Section 10(26AAA) of the Income Tax ...

Last week the Income Tax Department had released Excel Utilities for ITR-2 and ITR-3. The Income Tax Return (ITR) filing deadline for FY 2024-25, assessment year 2025-26 is September 15, 2025.

Making Tax Digital (MTD) for Income Tax will change how eligible sole traders and landlords handle their income tax from April 2026, adding in some new legal requirements. It’s one of the biggest ...

How some older adults could see federal income tax savings of $480 or more from a new senior "bonus" tax deduction, if it's passed by Congress.

AI flags font flaw, helps Income Tax dept bust capital gains fraud The case centres on a Hyderabad-based taxpayer who sold an immovable property for Rs 1.4 crore, but dramatically slashed his tax ...

I’m showing the skinny tax return so you can see how your personal tax is calculated and not just your “net income.” It’s important to see because for most people income tax will be the ...

High-income earners (>$217,000) For taxes filed in 2026, households making between $217,000 and $318,000 would see their aftertax income rise 2.6 percent, a tax break of about $5,400.

What to do if you discover a mistake on a previously filed tax return (and other reasons for filing an amended tax return).