Standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a t ...

The standard deduction allows taxpayers to reduce taxable income without proof. Introduced in 1974 and abolished in 2005, it ...

The standard deduction allows salaried individuals to deduct a fixed amount from their gross salary, lowering taxable income.

Following the Covid-19 pandemic, there was a surge in consumption due to pent-up demand. However, the sluggish wage growth ...

The central government has been modifying the New Tax Regime in the last few Budgets by including certain deductions and ...

Changing jobs without serving the notice period can result in an unexpected income tax implication if the old employer ...

Senior citizens are eagerly awaiting the announcement of tax concessions in the Union Budget 2025. The elderly population is ...

The IRS has made its annual inflation adjustments for more than 60 tax provisions, including tax rate schedules and the ...

As Budget 2025 nears, experts anticipate a possible hike in the standard deduction for salaried individuals and pensioners, ...

Even if your salary didn't change, you might have dropped into a lower tax bracket in 2025, reducing your tax rate. So you ...