While you don't have much choice when it comes to paying taxes ... those exemptions were eliminated under the act, making deductions now the prime way to reduce taxable income.

What, however, is not known to many people is that some deductions and exemptions are still allowed ... 4.Deduction under 80JJAA: Section 80JJAA of the Income Tax Act allows eligible business ...

This regime's tax rates are lower than those of the old regime, but it phases out most of the exemptions and deductions. This means if you want to avail any of these exemptions, you must opt ...

including lower income tax rates and wider tax brackets, higher standard deductions and bigger child tax credits, and the larger lifetime estate and gift tax exemption. Additionally, Donald Trump ...

Wish 1: Raise the standard deduction ... the new tax regime is considered as your default choice starting 2023. If your annual income is equal to, or falls below this basic exemption limit ...