Senior citizens, defined as those over 60, can enjoy a basic exemption limit of Rs 3 lakh under the Income-Tax Act, 1961, ...

Taxpayers are required to choose an ITR form and file their returns based on their total income, nature of income, and the ...

Currently, there are 7 forms notified by the department - ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7. It is crucial ...

As the 2025 tax filing deadline approaches, taxpayers should be aware of several minor, yet important, changes to Internal ...

The clock is ticking to file your tax returns by the April 15 deadline. The IRS received more than 80 million tax returns ...

CPA personal financial planners’ ability to discern the story inherent in a client’s tax returns brings unique value to the ...

A 1099-K form is issued by credit card companies and third-party settlement organizations (TPSOs) — think payment apps and ...

The Income Tax Department has launched a new Excel-based utility version of ITR-2 to make filing easier. This form is ...

Tips are considered taxable income, and individuals are required to report them on their federal income tax return or suffer ...

Form 10B is not just a routine form— it’s the gateway to exemption for charitable and religious institutions under the Income Tax Act. Trusts must maintain proper books of accounts and ensure timely ...