New ITR-1 and ITR-4 forms now require detailed documentation for deductions and claims, promoting transparency and accuracy.

For fiscal year 2024-25, Form 16 will reflect changes like increased standard deduction under the new tax regime. It will ...

Form 16 is vital for salaried employees during tax season, summarising income and TDS details. Easily downloadable from the ...

State and local tax deductions on federal income tax forms would remain capped at $10,000 under a plan released Monday by the ...

Salaried employees will soon receive their Form 16 for Assessment Year 2025–26, featuring a more detailed breakdown of salary ...

The Income Tax Department has released updated Excel utilities for ITR-1 and ITR-4 (AY 2025-26), introducing significant ...

Starting in 2026, businesses won’t be able to deduct the cost of company cafeterias and certain other food and beverage perks ...

Is rent a tax deduction? In general, taxpayers cannot deduct rent from their federal income taxes. However, some states offer ...

Form 16 is a very important document for salaried people during income tax return (ITR) filing. It shows how much salary you ...

If you’re filing ITR under the old tax regime for AY 2025-26, be prepared for tighter scrutiny — every deduction you claim, ...