Tasos Katopodis / Getty Images Earnings not subject to income tax, whether federal or state, are referred to as exempt income. Exempt income is income that's not subject to income tax.

In a conflict regarding his income tax return, the tax officer challenged Shah Rukh Khan's reported earnings of Rs 83.42 crore, denying his request for a foreign tax credit on taxes paid in the UK.

Khan had declared an income of Rs 83.42 crore in his tax return, but the tax officer reassessed it as Rs 84.17 crore and denied him foreign tax credit (FTC) for taxes paid in the UK. Listen to Story ...

The Office of the Principal Commissioner of Income Tax (Judicial), Delhi, has invited applications for empanelment as Senior and Junior Standing Counsels. These counsels will represent the Income Tax ...

MUNICH, March 9 — Marriage reduces women’s income by an average of one-fifth, according to researchers at Munich’s ifo Institute, as reported by German news agency dpa. The findings were released on ...

officer posted at Cuttack for allegedly amassing assets to the tune of 143 per cent more than his known sources of income. “Pradeep Kumar Mohanty, Odisha Transport Engineering Service (Senior ...

SAN FRANCISCO, March 7, 2025 /PRNewswire/ -- IEQ Capital is pleased to announce the expansion of its Family Office team with the hiring of Jennifer Kowal as Senior Income Tax Strategist.

Under Section 80C of the Income-tax Act, 1961, taxpayers can claim deductions on investments up to Rs 1.5 lakh. The Post Office offers several government-backed small savings schemes that qualify ...

UBTI is income earned by a tax-exempt entity from activities unrelated to its exempt purpose. Unrelated Business Taxable Income (UBTI) is the income earned by a tax-exempt entity from activities ...

Campaigners are raising alarms, suggesting millions of retirees might end up paying income tax for the first time due to the Chancellor's decision to maintain a freeze on allowances. A key ...

That will remain the same for tax year 2025 (filing in 2026), but the IRS adjusts the income range for each bracket annually to account for inflation's impact on salaries. Depending on how much ...