The Income Tax Department’s latest updates to ITR-1 and ITR-4 for Assessment Year 2025–26 have sent a clear message—claiming deductions and exemptions ...

The new tax regime from FY 2025-26 offers zero tax on incomes up to Rs 12 lakh, making it an attractive option for many.

If you're planning to file your Income Tax Return (ITR) for the financial year 2024–25, it's crucial to understand the ...

Choosing between the old and new tax regimes depends on factors like home loan deductions, income level, and personal financial goals, with the old regime benefiting those with high deductions and the ...

So, if you're still repaying a loan, especially in the initial years, you may find the old regime more tax-efficient. “Those who have repaid their loans or do not claim housing loan benefits may ...

1 lakh rent would become taxable and added to his income and taxed at the applicable slab rate. While the new tax regime allows interest deductions, it does not permit principal repayment claims under ...

Treasury Secretary Scott Bessent said as long as "good faith" negotiations are continuing that the new tariff rates will continue past 90 days. U.S. Trade Representative Jamieson Greer points out ...

However, those opting for the Old Tax Regime will need ... or re-entering the default tax regime. This decision impacts the tax deductions, rates, and exemptions applied to their income.

Many salaried individuals will have switched to the new tax regime this year as the rates have been lowered considerably compared to the old regime. Here's how you can calculate your in-hand pay ...

Forbes contributors publish independent expert analyses and insights. Nathan Goldman is a tax prof. at NC State Univ.