The alternative minimum tax exists to fix that.  Explore More: 3 Sneaky Things You Didn’t Realize Your Tax Software Was Doing ...

Individual taxpayers can claim a wide variety of deductions on their federal taxes. "The basic rules of deductions start by ...

The income tax calculator helps you calculate tax under both the old and new tax regime for all categories of taxpayers ...

To calculate your effective tax rate, you need two numbers: the total amount you paid in taxes and your taxable income for ...

Why tax-free limit is higher for salaried-class individuals This is because a standard deduction of Rs 75,000 under Section 87A is available only to salaried-class individuals. First, the Rs 75,00,000 ...

The new tax regime will have new income tax slabs from FY 2025-26. Many salaried employees hesitated to switch to the new tax ...

There is a lot to know when it comes to filing taxes. Our complete guide for the 2024 tax year (filing in 2025) should help.

The new income tax slabs are applicable from April 1, 2025. Further, there is no income tax on incomes up to Rs 12 lakh. Few ...

A slew of new financial rule changes are to come into effect from April 1, 2025 onwards, impacting UPI users, credit card ...

Discover 16 last-minute 1099 tax deductions for independent contractors. From home office to business insurance, these deductions can save you money.

Typically, if your income is less than the standard deduction for your filing status, filing a return isn’t required.