You can claim an amount for eligible adoption expenses related to the adoption of a child who is under 18 years of age at the time that the adoption order is issued or recognized by a government in ...

Low-income tax filers and families should especially take a close look at tax credits while they file their tax returns. The ...

It’s now the norm for Americans to file their taxes online — the IRS reports that more than 90 percent of individual tax returns were e-filed in 2023, the most recent data available. Even most profess ...

Prime Minister Narendra Modi’s statement on seeking Goddess Lakshmi’s blessings for the poor and the middle class has triggered hopes of Budget 2025 reducing individual taxpayers’ income tax ...

New Tax Regime: Initially, the new tax regime offered no standard deduction, but that changed in 2023 with the introduction of a Rs 50,000 standard deduction. In 2024, this was increased to Rs ...

Tax season started on January 27, bringing taxpayers a key choice in whether to itemize their deductions or take the standard deduction.

This budget is highly anticipated, with particular focus on potential changes to income tax structures and standard deductions that could impact salaried individuals and the middle class.

The state’s standard deduction is set to expire this year, and Republican and Democratic lawmakers who want to make sure it doesn't. “It’s almost a billion dollars into the pockets of ...

The inclusion of standard deduction and benefits for NPS has further enhanced its appeal. The standard deduction is a fixed deduction available to salaried individuals that aids in reducing their ...

The change, part of a much larger overhaul of tax policy, limited deductions for state and local taxes – SALT in the political vernacular – on federal tax returns to $10,000. The limit has the ...

Budget 2025 income tax expectations: Standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a taxpayer. Personal tax experts are of the view ...