This is the case of a person who has filed his return of income under presumptive taxation. He has made certain deposits in ...

The appeal challenged the order of the Commissioner of Income Tax (Appeals) [CIT (A)], which had largely upheld the disallowances made by the Deputy Commissioner of Income Tax (DCIT) during the ...

Backdoor Roth IRAs: If you exceed income limits for direct Roth IRA contributions, you can convert after-tax dollars into a ...

In Punjab in the amendment Act 2024 it has been stated in the Act that a schedule shall be provided in the Punjab Agricultural Income Tax Rules. There is a reference of two types of taxes being ...

The proposed version of the legislation boosts the standard deduction and increases the child tax credit, which would also ...

Complementing these legislative changes, the Central Board of Direct Taxes, through a notification on 7 April, 2025, introduced Rule 12AE in the Income-tax Rules, along with Form ITR-B.

A relatively smooth filing season offered a lot to learn about the future of the IRS, the importance of tax planning, changes ...

Fixing the tax code’s complexity won’t happen overnight, but it can start with eliminating obsolete rules, restoring ...

The International Ethics Standards Board for Accountants staff posted guidance to support adoption of its Tax Planning and ...