Department can process returns and issue refunds up to December 31, 2026. This means the I-T Department is still well within ...

With the discontinuance of the use of the term ‘assessment year’ in the Income-tax Bill, now the term ‘tax year’ will now be ...

Extra work hours in the week can mean extra pay. Now, it can also mean a new tax benefit you can claim on your return come tax time. Starting Jan.

New law replaces the 1961 Act from April 1, simplifying tax provisions, cutting litigation, removing obsolete taxes, and ...

Income tax refund delays beyond December 31 are not uncommon, as there is no penal consequence for the department during this ...

Learn how the income exclusion rule categorizes certain incomes, like certain interest and child support, as tax-free, ...

The main difference between a W-9 and a 1099 is that you fill out a W-9, while the business or entity that is paying you ...

Income tax is zero for those earning up to Rs 12 lakh per annum under New Tax Regime.

These can increase your tax liability and also result in penalties, fines and notices from the tax department.

Learn the critical differences between revenue and income, their impact on financial health, and how understanding each can ...