If you’re not sure which ones you may qualify for, here are some common deductions and credits new tax return filers can take.

Low-income tax filers and families should especially take a close look at tax credits while they file their tax returns. The ...

Personal tax experts are of the view that since no major exemptions and deductions are available under the new income tax regime, there is a strong case to hike the standard deduction. Budget 2025 ...

However, the 30% standard deduction on rental income remains applicable. While the new tax regime doesn’t offer house rent allowance (HRA) exemptions, salaried individuals can still claim ...

This regime offers lower tax rates against the removal of certain exemptions and deductions available in the old regime, such as the standard deduction and home rent allowance (HRA). The ...

Among the most anticipated measures is an increase in the standard deduction, a tax break that ... does not offer House Rent Allowance (HRA) exemptions. Tax experts recommend including HRA to ...

The Union Budget 2024 increased the standard deduction from Rs 50,000 to Rs 75,000 under the new tax regime, simplifying tax ...

Finance Minister Nirmala Sitharaman has made a big announcement regarding income tax. She has made income up to Rs 12 lakh ...

For example, a single tax filer earning $75,000 in 2024 and taking the $14,600 standard deduction -- or $60,400 ... require a specific separate form, worksheet or schedule. Most federal income ...

We test and rate the best online tax services to help you find the best one for filing quickly and accurately—and for getting ...

It’s what’s left after any adjustments, deductions and exemptions have been made ... though not directly like a tax credit. The standard deduction is the fixed amount set by the IRS that ...