The new tax regime is now the default for taxpayers in FY 2023, allowing lower tax slabs but eliminating old deductions.

leveraging tax credits and maximizing itemized deductions. Or, if you’re really committed to paying less in taxes, you could move. In nine states, income isn’t taxed — allowing residents to hold onto ...

On the other hand, if you are paying alimony under such an agreement, you cannot deduct the payments from your income tax. However, state tax treatment of alimony may differ. Child support ...

Walter Bibikow / Getty Images The mortgage interest deduction has long been praised as a way to make owning a home more affordable. However, the Tax Cuts and Jobs Act (TCJA), signed into law in ...

The Premier League is set to issue complaints on Tuesday to any clubs found in breach of its profitability and sustainability rules (PSR), which could result in a points deduction. Aston Villa are ...

Please note that the benefit of section 80C is available only under ... tax regime? Incidentally, any other short-term gain or loss you earn from any other source is treated like your normal ...

Measure to lower Kentucky's income tax headed to Senate Special counsel report on Hunter Biden slams Joe Biden comments as 'gratuitous and wrong' A 70-year-old who finally found a solution to a ...

But in many cases, it depends on a person's income. Taxpayers with lower incomes are typically eligible for more generous tax credits and deductions after they have or adopt a child, said Jim ...

In this case, you may be able to deduct an additional 20% of your rental income using the qualified business income deduction that was created by the Tax Cuts and Jobs Act of 2017. The bar to ...

Among the most commonly overlooked deductions are those tied to insurance premiums and medical expenses. While the 2017 Tax Cuts and Jobs Act (TCJA ... but only under specific conditions.

or SPP contribution for the purpose of claiming a deduction on your tax return. Find out the special rules that apply if you: transfer amounts to your RRSP, PRPP, and SPP repay funds that you withdrew ...

Section 195 of the Income Tax Act relates to the TDS (Tax deducted at Source) deductions ... includes all income that accrues, arises, or is deemed to accrue in India. Therefore, TDS must be deducted ...