The VITA program, which the IRS administers, began after the Tax Reform Act of 1969 and provides free tax filing assistance ...

Ministry of Finance addressed revenue loss and benefits related to tax incentives for corporates. From Assessment Year (AY) 2020-21 to AY 2024-25, companies claimed various income tax exemptions and ...

We test and rate the best online tax services to help you find the best one for filing quickly and accurately—and for getting ...

However, taxpayers claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) should expect a delay, with most refunds for these credits available by March 3. Here's a ...

Tax on subsequent amount of 4 lakh (from 4 lakh to 8 lakh) Rs 20,000 (being 5% of Rs 4 lakh) Tax on subsequent amount of 4 lakh (from 8 lakh to 12 lakh) Rs 40,000/- (being 10% of Rs 4 lakh) Tax on ...

New income tax slabs: Nirmala Sitharaman made a historic announcement that there will be no income tax payable for those with an income upto ₹12 lakh. New Income Tax Slabs: Union finance ...

As we know, the income tax Returns in India require detailed reporting of income, tax relief, and foreign assets (if applicable), else due to information exchange agreements department is sending ...

The tax rebate is applicable if the net taxable income does not exceed Rs 7 lakh. The new tax regime offers marginal tax relief for small taxpayers whose incomes exceed Rs 7 lakh by a small amount.

These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

Adhil Shetty, CEO of BankBazaar, urges Finance Minister Nirmala Sitharaman to raise the 30% income tax threshold to ₹18 lakh in Union Budget 2025, restructure the tax brackets, and introduce a ...

In the Union Budget 2025, the Finance Minister announced significant changes to the new income tax regime Under the new tax system, people will not have to pay income tax on annual earnings up to Rs ...

Final passage came on a 34-3 Senate vote to lower the tax to 3.5% from 4% at the start of 2026. The bill goes to Democratic ...