President Donald Trump signed into law a sweeping tax and spending package that significantly raises the federal excise tax ...

Individuals can still switch between the two tax regimes at the time of filing their returns, with key differences based on ...

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From April 1, 2025, there is zero tax payable on the taxable income up to Rs 12 lakh. This will happen if an individual opts for the new tax regime for FY 2025-26.

Under the new income tax regime, introduced as per section 115BAC of the Income-tax Act,1961 w.e.f. Assessment Year 2021-22 (Financial Year 2020-21), an individual taxpayer or Hindu Undivided ...

Tax calculations: Taxable income vs gross income vs net income - know how to calculate your actual tax outgo In the Budget 2025, there have been new income tax slabs introduced in the new tax system.

The former president has repeatedly praised a period in American history when there was no income tax, and the country relied on tariffs to fund the government.

T he Cost Inflation Index (CII) is a measure used by the Income Tax Department of India to account for inflation when calculating long-term capital gains on the sale of assets. It was a critical ...

Income Tax Calculator FY 23-24: The online tax calculator is crafted to offer an estimated tax liability figure, serving as a tool for taxpayers to gauge their owed taxes or potential refund amount.

Details here The deadline for submitting an updated income tax return (ITR) for the financial year 2020-21 is on March 31.