ITAT Mumbai set aside a cryptic CIT(A) order and remanded the entire case to the AO, directing a de novo inquiry into unexplained fixed deposits, cash, and flat investment after admitting new bank ...

Judicial ruling confirms that investment source for property purchased by a homemaker was genuine. The ITAT found that the entire consideration had a clear trail from the son's account, reversing the ...

When Platt Moore and his wife Ashley learned a residential developer had approached a neighboring farm owner about selling ...

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...

Plus: Proposed regulations for “no tax on tips,” new tax forms, Roth catch-up contributions, charitable donation deductions, state and local tax deductions, tax filing deadlines, tax trivia and more.

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

Income Tax: Today is the last date to file an income tax return (ITR) for the assessment year 2025-26 after the Central Board of Direct Taxes (CBDT) extended the last date by one day. So far, over ...

The CBIC has notified changes to the annual GST return form GSTR-9, making the reporting of Input Tax Credit (ITC) more comprehensive. The Central Board of Indirect Taxes and Customs (CBIC) on ...

The IRS on Thursday announced adjustments to the federal income tax brackets and standard deductions for 2026.

The government had granted taxpayers an additional day to submit their Income Tax Returns (ITRs) for Assessment Year 2025-26, moving the deadline from September 15 to September 16, 2025. Those who ...

ITR Due Date Extension 2025 Highlights: The last date to file income tax returns (ITR) for AY 2025-26 ends on 16 September. The ITR filing deadline was extended by a day by the Centre from 15 ...

Thousands of dollars in potential tax savings are available — but only through the end of the year. By Rachel Wharton The Inflation Reduction Act made home-renovation history in 2022 by expanding tax ...