In a notification issued on April 23, the Central Board of Direct Taxes (CBDT) notified that any expenditure incurred to settle proceedings initiated in relation to contravention or defaults under ...

A coalition of entertainment unions, joined by the Motion Picture Association, urged President Trump on Monday to support tax deductions that ... for our members and other industry workers by ...

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shall not be eligible for deduction, he said. “This effectively overrides prior tribunal rulings and brings much needed clarity to the tax landscape, although grey areas persist under other ...

The income tax department on Thursday said taxpayers will not be allowed to claim deduction for expenditures incurred to settle proceedings initiated under four laws, including the Sebi and the ...

In the new financial year, taxpayers are gearing up to file their income tax returns (ITRs) for FY2024-25 (Assessment Year 2025-26). At the same time, these taxpayers do their math to check how ...

“Tripling the deduction to $30,000 will provide much-needed ... who bitterly oppose the proposed $30,000 cap. The other Republicans, including Westchester County Rep. Mike Lawler and Long ...

Confirmed by Labour Chancellor Rachel Reeves in the Autumn Budget last year, the maximum deductions from the standard allowance will drop from 25% to 15%. Currently, the DWP and other third ...

If these do not cumulatively exceed one quarter of the claimant’s Standard Allowance, other deductions may ensue, reports the Mirror. Nonetheless, reaching this cap means lower-priority ...

Everything seems aligned for blue-state Republicans to finally win their long-fought battle to raise the cap on the state and local tax deduction ... themselves and with other GOP lawmakers ...