The Income Tax Act, 1961, will be replaced by the Income Tax Act, 2025 and this takes effect from April 1, 2026. However, many provisions like Section 80C, 80D, 54F, 54, 80G and others of old tax Act ...

The Income Tax Department on Friday released Excel utilities for ITR-2 and ITR-3 forms, which can be used by taxpayers to file ITR on income received from Taxable Capital Gains, crypto income, and ...

For federal income tax purposes, your marital status is determined under state law as of the last day of the calendar year. That matters when choosing your filing status. Your filing status is one of ...

While Americans celebrate the New Year and return to work, it’s easy to forget what comes after the holiday season: tax season. Tax Day is still months away, but filing early could mean getting your ...

As the ITR filing deadline nears, several apps are simplifying the process with guided steps and auto-filled data. Platforms like Black by ClearTax, Quicko and TaxBuddy offer DIY and expert-assisted ...

Early birds can submit their 2025 tax returns today and receive their potential tax refunds in two to three weeks. Peter is a writer and editor for the CNET How-To team. He has been covering ...

Tax season opened this year on January 26, 2026, and the IRS expects to process more than 164 million individual tax returns for the 2025 tax year. But not everyone is rushing to file, and not ...

Form 145 must be filed before making payments to non-residents. The ruling ensures prior reporting and proper TDS compliance.

NEW YORK (AP) — Tax season is underway and you have until April 15 to file your return with the IRS. If you want to avoid the stress of the looming deadline, start getting organized as soon as ...

At a 12% marginal tax rate, for example, the $6,000 enhanced senior deduction for a single taxpayer who is 65 or older would result in $720 in tax savings. The new enhanced deduction for seniors on ...