The Internal Revenue Service (IRS) on Thursday, October 9, announced new federal income tax brackets as well as standard deductions for 2026. As per the latest announcement, the income brackets that ...

As per Section 43(5) of the Act, trading in Futures and Options (F&O) transactions are classified as non-speculative business transactions and any gain or loss from such transactions shall be taxable ...

The government is under pressure to raise revenues and balance the books ahead of November’s autumn Budget statement. And new economic analysis has revealed which tax rise will be the better option ...

The ITR (income tax return) filing season ended on September 16 without giving more extension to the deadline. The ITR AY 2025-26 saw basically two extensions – 46 days from August 1 to September 15, ...

Income tax cuts have featured in every budget in recent years, with tax credits increased, USC changes and the rate at which taxpayers enter the higher 40 per cent rate rising. These have been ...

ITR Filing: After filing and submitting the income tax returns (ITR), many taxpayers wait for their income tax refunds, especially when they paid more income tax than required. Around 10 days have ...

The CBDT has extended the deadline for submitting tax audit reports for the financial year 2024-25 to October 31, 2025, providing relief to taxpayers. This decision follows representations from ...

State income tax rates can raise your tax bill. Find your state's income tax rate, see how it compares to others and see a list of states with no income tax.

Rachel Reeves has been urged by a thinktank to cut national insurance and increase income tax to create a "level playing field" and protect workers' pay. The Resolution Foundation said the chancellor ...

In a reversal of its earlier stance, the Federal Board of Revenue (FBR) late on Tuesday night extended the deadline for filing income tax returns for the tax year 2025 until October 15. The move came ...