A Bollywood actor wins a major tax case on Foreign Tax Credit (FTC). Learn how FTC works, key legal takeaways, and how to avoid double taxation.

As the financial year 2024-25 nears its end, taxpayers must focus on important tax-related documents, including the Income ...

Zarrar Hasham Khan has been appointed as chairman of Pakistan Telecommunication Company Limited (PTCL), replacing Azfar Manzoor. The company disclosed the development in its notice to the Pakistan ...

(Mint) The new income tax bill has changed the TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) rules several times. These changes were announced in Budget 2025 and will be effective ...

A foreign tax credit (FTC) allows taxpayers to offset income tax paid in another country against their Indian tax liability.

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.

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 ...

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 ...

Income inequality in California has reached one of the highest levels in the nation, with the wealthiest families earning significantly more than those at the bottom, according to the U.S. Census ...

If you hold those assets for at least a year and a day, you'll benefit from the lower long-term capital gains tax rate. That's better than the regular income tax rate you'd pay if you kept the ...

Most Americans who earn an income are responsible for giving a cut to the government. The total amount you owe a federal, state, or local taxing authority for the year will depend on your tax ...