There are other tax changes happening next year that could put more money in your paycheck. If you collect Social Security, ...

7% of Income tax where total income is more than ₹1 crore 12% of Income tax where total income is more than ₹10 crores ...

Tax Return Preparer Scheme or TRP was successfully introduced by the Income Tax Department in order to make the process of filing taxes easier and relatively simple for the taxpayer. The TRPS or Tax ...

The option of choosing any tax regime while filing ITR is available if tax return is filed before expiry of ITR filing deadline ... the basic exemption limit remains Rs 3 lakh for FY 2023-24 and FY ...

you need to divide your total tax by your taxable income. You can find your total tax on line 24 of Form 1040 and your taxable income on line 15. Have over $7,500 in tax debt? A tax relief ...

or file an amended return if you already filed but did not include a Schedule EIC (if you had a qualifying child). The EITC is designed for people whose earned income was under $66,819 for tax ...

The Income Tax Act exempts the income of a charitable trust from the scope of Income Tax. However, the exemption will be granted on the fulfilment of the specified conditions. The specified conditions ...

The form you must file to amend your return is 1040-X, the Amended U.S. Individual Income Tax Return. Up until August 2020, you had to print a hard copy of Form 1040-X and mail it to the IRS ...

“In FY 2023-24, the percentage of population that files Income Tax Return is 6.68 per cent. (In FY 2023-24, the total number of persons filling income tax return is 8,09,03,315),” Mr ...

ITAT Surat held that addition under section 69C towards undisclosed income, alleging agricultural expense met from undisclosed income, not justified since the only source of income of the assessee is ...