In simple terms, Section 179 allows businesses to deduct the full cost of most equipment and software for the tax year they purchase and place it into service, rather than depreciating the expense ...

A non-resident can claim deduction under section 80C through various items though a non-resident is not entitled to open a ...

Sen. Chris Van Hollen of Maryland has a new bill that would let individuals deduct the first $46,000 of their income from ...

Contribution to the NPS remains one of the few tax-saving options available under both the old and the new tax regimes, though the benefits are higher in the old regime.

Taxpayers under the old tax regime can claim up to ₹1.5 lakh deduction under Section 80C. But can these tax-saving ...

Not to be confused with the additional standard deduction for seniors, the new senior tax deduction allows qualified filers to shelter even more of their income from taxes. Many, or all, of the ...

This Tax Case (Appeal) before the Madras High Court relates to Assessment Year 2003-04 and involved two substantial questions of law admitted on 02.12.2024. The first question concerned whether ...

The ITAT Delhi partly allowed the assessee start-up company’s appeal and held that deduction u/s 80IAC cannot be denied merely due to non-filing of Form 10CCB at the time of processing u/s 143(1). The ...

Ever notice in those reality shows, like "House Hunters," focused on residential real estate and home renovations, that everyone wants a home office? There's a good reason for that. That extra home ...

Rise in NSSF contributions and the introduction of a 1.5 per cent housing levy deduction on gross pay from July 2023 have significantly cut workers’ take-home pay. The National Social Security Fund ...

Tax season 2026 is here, and if you haven't yet filed your federal income tax returns, you should double-check for new and updated tax credit and deductions, as you may be missing out on thousands of ...