Understand what tax liability is, how it's calculated, and its impact on your finances. Learn about different types of tax ...

The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their ...

Do you follow the new tax regime or the old tax regime? Will you switch to the proposed new tax regime once it is implemented ...

Many people have heard the old advice not to give an interest-free loan to the government, but getting a tax refund isn't ...

The new tax regime in India offers higher take-home salaries and lower average tax rates compared to the old regime for incomes between ₹1 crore and ₹10 crore, making it a more appealing choice for ...

As the financial year 2024-25 draws to a close, taxpayers in India are gearing up for an important tax compliance ...

Among tax write-offs, deductions, and credits, you have a few different ways to ease the financial burden of paying your taxes. With these tax advantages, you can lower your taxable income, reduce ...

According to Income Tax regulations, those individuals having a total tax liability on income from sources other than salary ...

Tipping has been part of the modern-day American restaurant experience for decades. Like most forms of income, these tips are taxable and subject ...

The deadline to pay the final instalment of advance tax for the financial year 2024-25 is March 15, 2025. The Income Tax Department has reminded taxpayers to clear their advance tax payments before ...

Advance tax is applicable when the total tax liability for a financial year exceeds Rs 10,000. It is computed based on the estimated income for the year and paid in instalments as per the due dates.