The Income Tax Bill 2025 is a big step forward in making India’s tax system friendlier but there are areas that need review. Constructive stakeholder consultations will be key to refine its provisions ...

One key update is the introduction of a “tax year,” which refers to the 12-month period starting from April 1, effectively ...

The proposed Income Tax Bill, 2025 aims to simplify the tax system with a reduction in sections and word count, introduce a ...

It aims to simplify the existing Income Tax Act, 1961, by making it more structured and easier to understand. If passed, the new law will come into effect from April 1, 2026.

The copy of the New Income Tax Bill 2025 (“ITB”) has been made available to the Members of Parliament (MPs) on 12 February ...

The bill advances the Modi government’s "ease of doing business" initiative by providing a clear and simple tax framework ...

Receiving a bonus can be a delightful surprise, but the joy might be short-lived once you realize the tax implications. Learn ...

Scrapping archaic provisions and simplifying language are welcome. But systemic issues affecting taxpayer morale must also be ...

These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

No matter what line of work you’re in, your goal may be to see your income increase from one year to the next. So if that’s ...

Reporter Brooke Thorington spoke with Louisiana Department of Revenue Secretary Richard Nelson to get some tips for staying ...

Yes, you do. You very much need to report the income you made from tips on your tax return. On its website, the IRS advises ...