ITAT Delhi held that intimation under section 143(1) of the Income Tax Act being passed without waiting for the response of ...

A buyout could save the Suns nearly $200 million in luxury taxes and allow Beal to join any team. Trading Bradley Beal should ...

ITAT Delhi held that addition under section 68 of the Income Tax Act cannot be sustained as assessee has proved the source of funds for purchase of land made in earlier assessment year. Accordingly, ...

Each year, millions of U.S. taxpayers submit corrections to their federal tax returns through the Form 1040-X, often to amend ...

Tax breaks in the megabill, like no taxes on tips and overtime, only apply to people at certain income levels.

With the GOP’s “big, beautiful bill” headed to President Trump’s desk for signature Friday, wealthy Americans are poised to ...

Taxpayers preparing to file their income tax returns (ITR) for the assessment year (AY) 2025-26 will need a detailed set of documents, including income proofs, investment records, and tax deduction ...

The latest version of the GOP’s “big, beautiful bill,” which passed both houses of Congress this week and is headed to ...

If you haven't filed your 2024 return yet, the 2024 annual gift tax limit was $18,000. (That’s up $1,000 from the 2023 tax year's limit since the gift tax is one of many tax amounts adjusted ...

In recent months, the IRS has revised a public announcement and issued a practice unit on IRS Form 3520-A reporting and ...

Add up the money you spent on your own healthcare for the year. Use IRS Form 1040 or 1040-SR. Enter your Medical expenses on lines 1 through 4 of the Form 1040 or 1040-SR.

Bipartisan support for a new tax system opens the door for tax reform beyond the Big Beautiful Bill- ...