A deduction cuts the income you're taxed on, which can mean a lower bill. A credit cuts your tax bill directly. Learn more about common tax breaks and how to claim them. Many, or all, of the ...

Who should file a tax return, how to get ready for taxes, filing and payment due dates, reporting your income and claiming deductions, and how to make a payment or check the status of your refund.

That means the entire amount paid for it can be considered goodwill, and Facebook would have recognized it as such on its balance sheet ... The general formula to calculate goodwill under IFRS ...

A quick calculation shows that parity in terms of take-home salary is achieved only at the income level of Rs 12.71 lakh. At this income, the tax is Rs 70,500, which means the take-home salary is ...

Finance Minister Nirmala Sitharaman has introduced a major tax relief, making incomes up to ₹12 lakh tax-free. For salaried individuals, this limit increases to ₹12.75 lakh after factoring in the ...

While completing your taxes is no easy feat, especially since tax codes change yearly and vary from person to person, you don't have to be completely in the dark with this cheat sheet. The ...

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 ...

Final judgement on 87A tax rebate claim: The 67 page Bombay High Court judgement says yes taxpayers should be given the option to file their ITR with Section 87A rebate claim and the income tax ...

"Certain types of investment products can get you some tax-free income, like government bonds," said Colvin. "The tax benefits you get from federal or municipal bonds are a nice perk, but they won ...

For the initial few years there was not much uptake of the new income tax regime amongst the taxpayers. This resulted in another amendment of making the new income tax regime as the ‘default ...

The Central Government has introduced the Unified Pension Scheme (UPS) as an option under the National Pension System (NPS) for Central Government employees. The Pension Fund Regulatory and ...

Yet, both data points are averaged to calculate per capita income. This cannot be the right criterion to assess society,” said Bhatti, expressing concerns over the widening economic disparity.