The "One, Big, Beautiful Bill" seeks to make the 2017 tax cuts permanent and expand them further. Standard deductions would increase, child tax credits would rise to $2,500, and business owners would ...

The standard deduction was reintroduced in Budget 2018 at Rs 40,000 by then Finance Minister Arun Jaitley, replacing ...

ERIC PAUL ZAMORA [email protected] Democrats blasted Republicans for tilting most of President Donald Trump’s proposed ...

Choosing between the old and new tax regimes depends on your income level, eligible deductions and life changes-switching is ...

Here’s a summary of the key changes in the new ITR forms for Assessment Year 2025-2026:ITR 1.The new rules allow the taxpayer to report capital gain from long term capital gain from listed shares and ...

The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits ...

Deficit hawks who had blocked the measure two days earlier are still dissatisfied and want steeper spending cuts.

Before the ITAT, Dixon Technologies reiterated its arguments and submitted additional evidence under Rule 29 of the Income Tax Appellate Tribunal Rules, 1963. This evidence included copies of the ...

Less: Exemptions on Salary income (other than HRA) which are not allowed under New Regime (e.g. Leave travel allowance, Education allowance, Hostel allowance etc.) Less: Exemptions on Salary ...