The standard deduction is a portion of income that is not subject to tax and can be used to reduce a tax bill instead of ...

ITAT Mumbai sets aside a CPC rectification order, ruling it invalid due to a violation of Section 154(3) for enhancing income without a prior notice or ...

Discover legal tax avoidance strategies versus illegal tax evasion methods. Learn how to reduce taxes legally and the ...

Sukanya Samriddhi Yojana (SSY) is a girl child special scheme. Under this scheme, a girl's parents or legal guardians can ...

Orissa High Court held that writ petition against assessment order u/s. 147 read with section 144 of the Income Tax Act is not entertained due to availability of alternative remedy. Accordingly, writ ...

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.

Form 16 is a TDS certificate that salaried taxpayers need to file their income tax return (ITR). It's an important document ...

When you cross the top threshold, up to 85% of benefits become taxable income. When pensions, part‑time earnings, or ...

What does the "Big Beautiful" bill mean for your Social Security as a retiree - and how can you plan for the potential ...