New Income Tax Act: The new Act looks to streamline provisions, reduce complexity, and introduce modern digital processes.

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Property sellers locked in disputes over capital gains calculations may find some relief from a recent ruling by the Hyderabad Bench of ITAT. The tribunal observed that expenses incurred to demolish ...

Section 54EC provides for exemption to any assessee from long term capital gains arising from transfer of long term capital asset being a land or building if the capital gains are invested in capital ...

Explains how the new Act replaces the 1961 law, simplifies drafting, introduces the “Tax Year” concept, and aims to reduce litigation and compliance ...

The 2025 Act restructures and renumbers sections across all five heads of income. Understanding the old-to-new section comparison is essential for accurate interpretation from FY ...

The Social Security Fairness Act signed at the beginning of 2025 is now unfair, at least when it comes to taxes, according to some representatives in Congress. Those income spikes last year likely ...

California Democrats are split over a state proposal, championed by Sen. Bernie Sanders (I-Vt.), to tax the state’s richest residents ahead of the November midterm elections, potentially thwarting any ...

The good news? The average dollar amount of tax refunds issued so far is up. The rough patch? The IRS has processed far fewer returns in the first two weeks than a similar time frame a year ago. The ...

State income taxes often reflect federal policies, but Washington, D.C. and some states have taken steps to keep the latest Republican changes out of their tax codes. By Andrew Duehren Reporting from ...

The Social Security Fairness Act provides more than 2.8 million beneficiaries who receive public pensions with higher monthly payments and retroactive lump-sum payments dating back to 2024. The law ...