Proponents claim "small businesses" rely on the pass-through deduction, but the benefits greatly favor the very rich.

The new bill has preserved the tax policies and key provisions of the Income-Tax Act, 1961. Redundant rules have been removed ...

Losses from one house property can now be offset against income from another property. However, any remaining losses can only ...

Deductions related to salary, including standard deduction and leave encashment, are now grouped under a single clause ...

Summary: Income Tax Bill 2025 was introduced in Parliament on February 13, 2025, as announced by Finance Minister Smt. Nirmala Sitharaman during her budget speech on February 1, 2025. This proposed ...

By avoiding abrupt policy shifts or tax rate changes, the bill focuses on a predictable fiscal environment for businesses and ...

A major shift under the Financial Bill 2025 allows non-residents to adjust acquisition costs based on currency fluctuations ...

The new Income tax bill, 2025 is now reality with proposed implementation from thee F.Y 2026-27 replacing the existing income tax act, 1961 with avowed purpose to simplify the most complex direct tax ...

Fortunately, Utah now joins with 13 other states, offering a state child income tax credit that helps low-income families pay ...

Public hearings on Unicameral bills start at 1:30 p.m. CT each session day in Lincoln’s State Capitol. For online access to ...

India's new income tax bill proposes sweeping powers for authorities to access taxpayers' emails, trading and social media ...

The comprehensive tax reform, signed by Gov. Kim Reynolds into law last spring, lowers the individual income tax from its top ...