Income Tax

Income secretary Tarun Bajaj has mentioned that the brand new exemption-free income-tax regime must be tweaked to make it extra enticing. Bajaj, who superannuates this Wednesday, instructed ET's Anuradha Shukla & Deepshikha…

Calculating tax has at all times been an uphill process. From the classification of earnings to the willpower of tax charge, the method might be fairly difficult, particularly for many who do not love quantity crunching. One other…

The Earnings Tax (IT) Division on Thursday knowledgeable that it has detected Rs 1300 crore unaccounted revenue after raids in Karnataka. The division carried out search operations on 20 October 2022 and a couple of November on sure…

Direct tax collections for fiscal 2022-23 are anticipated to surpass the funds goal by no less than Rs 1.5 lakh crore, finance ministry sources have instructed Enterprise At present Tv.The funds for this fiscal yr has estimated direct…

Thousands and thousands of employees are bouncing again — and making sufficient cash to pay Uncle Sam.Some 72.5 million households or 40% of households pays no federal earnings tax this yr, down from the pre-pandemic excessive of 60% two…

Charles Rettig, IRS Commissioner, testifies in the course of the Senate Finance Committee listening to in Washington, D.C., June 8, 2021.Tom Williams | Pool | ReutersThe IRS mentioned it has handed a milestone of hiring 4,000 new…

Xavierarnau | E+ | Getty PhotosSocial Safety advantages will go up by greater than $140 per thirty days on common in 2023, as a document 8.7% cost-of-living adjustment kicks in.Precisely how a lot of a rise the roughly 70 million People…

Amid hovering inflation, the IRS this week introduced larger federal revenue tax brackets and commonplace deductions for 2023.The company has boosted the revenue thresholds for every bracket, making use of to tax yr 2023 for returns…