The standard deduction, which reduces the taxable income, has been increased from Rs. 50,000 to Rs. 75,000. Additionally, the income threshold for the 5% tax rate has been raised from Rs. 5 lakh to Rs ...

House conservative proposals to raise corporate taxes to offset the cost of President-elect Trump’s tax package are going over like lead balloons in the Senate, where Republicans are warning ...

The Directorate General of GST Intelligence (DGGI), Hosur, has arrested the proprietor of an unnamed firm for fraudulent input tax credit of ₹9.64 crore without actual receipt of goods.

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Understanding your tax bracket and ...

Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She has been in the accounting, audit, and tax profession for more than 13 years, working with individuals and ...

Unearned income that exceeds $2,600 is taxed at the parent’s tax rate unless the child’s rate is higher (often referred to as the “kiddie tax). You can use Form 8615 to calculate your child ...

However, there’s a noticeable contrast across the globe—some countries have relatively low tax rates, while others impose hefty ones. Some countries with the highest taxes record a whopping number ...

To know if you owe taxes on Social Security, consider the following: Is my Social Security income taxable? How to calculate your Social Security tax rate ... is your sole source of income in ...

But ordinary income tax rates still apply to distributions for other than qualified medical expenses. The IRS doesn't consider inheritances to be taxable income. That includes inheritances of cash ...

An EIN (Employer Identification Number) is a unique nine-digit number the IRS uses to identify your business for tax reporting purposes. Unless you’re a sole proprietor or single-member LLC ...

Bank Negara Malaysia (BNM) is set to hold its key policy rate steady at 3.00% for the tenth consecutive meeting, as indicated by a recent Reuters poll. This decision comes as the country's economic ...