In the recent ruling ITAT held that deduction u/s 54B would not be applicable in case land was not used for agricultural purposes in two years preceding date of transfer.

ITAT Pune held that once primary reason to believe that income had escaped assessment fails then AO doesn’t possess jurisdiction to tax any other income in reassessment order. Hence, re-assessment is ...

Under the new bill, individuals who are eligible to obtain an Aadhaar number must provide it when applying for a PAN and ...

Finance Minister Nirmala Sitharaman introduced the much-anticipated Income Tax Bill 2025 in the Lok Sabha on February 13. The ...

New York state has nine income tax rates, ranging from 4% to 10.9%. Tax credits and deductions, filing status and residency status can influence what you pay. Many, or all, of the products ...

A frustrating thing about working hard to earn money is knowing the IRS will tax ... income are not taxable in the eyes of the IRS. Generally, whether income is taxable depends on various rules ...

and having unreimbursed medical expenses that exceed a maximum of 7.5% of your adjusted gross income for the year. The Bottom Line The tax rules for 401(k) rollovers can be straightforward for ...

By A.O. Scott These refreshingly authentic and playful picture books celebrate the many kinds of love that can fill kids’ lives. By Travis Jonker The writer Kelsey McKinney tries to wrestle ...

While many of her contemporaries are playing canasta, she’s releasing her 25th book. There’s no mystery to it, Tyler says: Start on Page 1, then keep writing. By Elisabeth Egan In Charlotte ...

In his latest book, Cass R. Sunstein lays out what the U.S. owes to the rest of the world. Ada Calhoun’s debut novel about a middle-aged wife and mother offers a wry critique of the sexual ...

Online tax software can help you file your tax return faster. Here's how to pick the right filing service. Danni Santana has spent seven years as an editor and business journalist covering ...

There's no catch-all service that can help anyone file for free. But there is likely an option for everybody. Danni Santana has spent seven years as an editor and business journalist covering ...