will introduce the term ‘tax year’ to specify the year of earning income for which the tax liability is computed. The bill will also replace verbose definitions with formulas and simplify the ...

The government has released the new Income Tax Bill to the public ahead of its scheduled presentation in Parliament on February 13, 2025. This comprehensive document consists of 622 pages and will ...

The upcoming Income Tax Bill, set to be introduced in the Lok Sabha on Thursday, proposes replacing the term ‘previous year’ with ‘tax year’—12 months starting from 1 April. It also ...

1961 in order to enhance understanding of income tax laws among the general public and decrease disputes. Over the years, the Income Tax Act 1961 has undergone 66 revisions through various Budgets ...

Each year, the tax season deadlines follow a familiar schedule, from the start of filing season to the final extension date. Knowing exactly what these dates are, though, will help you stay ahead ...

The emperor Caesar adopted a 365-day calendar and added 10 days to it, including a leap day in February every four years, writes Calendar.com. Eventually, the calendar we all know was adopted by ...

The federal tax deadline is its usual date, April 15, which falls on a Tuesday this year. You can get an extension until Oct. 15 if you request it by mailing in a Form 4868, or online through the ...

For tax situations that are complicated beyond that, you’ll have to pay. Live tax help, access to six years of storage and assistance reporting items like freelance income, crypto sales and real ...

Avoid these common tax mistakes Gen Z will make on taxes this year to put more money toward building wealth and less toward lining Uncle Sam’s pockets. Most young adults prepare their own tax ...

“In many businesses, one might expect to have losses in the first few years,” said New York City tax preparer Todd Thurston. While the IRS does expect an artist in business to have a profit ...

By 1980, that figure had fallen to 2.8 children on average and – as of February last year – it was just 0.78. While factors other than high taxes also contributed to the fall in births ...