Compliance with the standards update “isn’t going to be cheap” for many firms, but the FASB has taken steps to reduce the ...

A tax return is a document showing whether or not you’ve paid the correct amount in taxes throughout the year. Since many of ...

CBDT has introduced Form 12BAA to enable employees ... about taxes deducted from any other source of income or taxes paid while making expenses. Form 12BAA is similar to Form 12BB, which the ...

Until relatively recently, expenses were claimed by filling out a special Med1 form. But now all taxpayers can claim relief ...

Income can be earned through investments with capital in the form of capital gains ... when used to pay for qualified higher educational expenses if they meet additional requirements for the ...

The new income tax regime’s revised tax slabs introduce rates ranging from 5% to 30%, with incremental increases across ...

Amount of TCS paid on the expenses. The CBDT has recently unveiled a new form, Form 12BAA, designed for the reporting of non-salary income and the inclusion of Tax Collected at Source (TCS ...

This appeal is filed by the assessee against the order of the Learned Principal Commissioner of Income-tax (Central), Mumbai-4/National Faceless Appeal Centre, Delhi [hereinafter referred to as “PCIT” ...

Around five mutual fund NFOs will open for subscription this week. Franklin India Arbitrage Fund, Mirae Asset Nifty 1D Rate ...

Deferred sale trusts have gained attention as a sophisticated estate planning tool for deferring capital gains taxes on the ...

A life insurance policy is a long-term investment in your family's security, so it is essential to make an informed decision.

Pages 28-29. Internal Revenue Service. "Publication 550, Investment Income and Expenses." Page 28. Internal Revenue Service. "26 CFR 601.602: Tax Forms and Instructions, Rev. Proc. 2023-34," Pages ...