The new income tax slabs under the new tax regime hiked the basic exemption limit from Rs 3 lakh to Rs 4 lakh. This means that individuals having a total income below Rs 4 lakh between April 1, 2025, ...

Taxpayers will soon be able to file their income tax returns (ITRs) from April 1, 2025, for the assessment year 2025-26. The ITRs can be filed offline or online mode. The income tax department will ...

The old tax regime provides tax benefits on the interest and the principal paid in a home loan. Since a home loan is a long-term commitment, you can save considerable tax during the loan duration. But ...

₹1 crore to ₹5 crore salary: The comparison between the new and old regimes for different salary levels shows variations in tax liability and in-hand income. How much of your high salary do ...

How Does the Earned Income Tax Credit Work? The Earned Income Tax Credit (EITC) turns 50 this year—and the IRS is urging eligible taxpayers not to leave money on the table. Since its creation in 1975, ...

This week, we celebrate 50 years of the federal Earned Income Tax Credit (EITC) and the impact it’s had on millions of workers and families. Over time, the credit has grown at both the federal and ...

As a guess, your combined CPP and OAS will come to about $35,000 annually at age 70, which is a good fully-indexed base ...

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or ...

Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, certified VITA tax preparer, IRS annual filing season program participant, and tax writer. David is ...

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 ...

Budget 2025 raises the tax-free income threshold to Rs 12 lakh The old tax regime allows several deductions to lower taxable income The new regime offers lower tax slab rates and minimal paperwork ...