NEW DELHI: When capital gains from stocks or equity-oriented mutual funds are the sole income, the income tax calculation differs significantly. If this were the case in 2024-25, there is added ...

The income tax department has notified all seven ITR forms for the assessment year 2025-26, including changes in ITR-1 and ITR-4 for reporting capital gains. Taxpayers with LTCG up to Rs 1.25 lakh can ...

Your taxable income is the portion of your income subject to federal tax, and it’s important for several reasons. To start, your taxable income amount determines your tax bracket and marginal tax rate ...

Income tax department has notified all seven Income Tax Return (ITR) forms for the assessment year 2025-26. While ITR Forms 1 and 4, used by small and medium taxpayers, were notified on April 29, ...

Taxpayers will be liable to pay zero income tax from April 1, 2025, if their income is up to ₹12 lakh per annum. Tax is calculated based on a series of slabs which are detailed as follows (Pixabay) ...