Final Take: Maximize Your Tax Savings Now that you know what are itemized deductions, the key is to compare them with your standard deduction. If your eligible expenses add up to more than the ...

By uploading the Digital Form 16 to a tax-filing platform, essential figures such as salary income, TDS, and deductions under sections like 80C and 80D are automatically extracted.

Claiming the right deductions on your taxes could have a big impact on what you owe the IRS this year. Getty Images With the April 15 tax filing deadline right around the corner, millions of ...

Filing Form 4684 allows taxpayers to claim a deduction for financial losses caused by sudden disasters or theft. But eligibility is often limited to federally declared disasters for personal-use ...

The Other SALT Deduction That Needs to Go The Capitol building is seen in Washington, D.C., December 18, 2023.(Elizabeth Frantz/Reuters) ...

Form-13 is a special provision under the Income Tax Act, 1961, that allows taxpayers to apply for lower or zero TDS deduction ...

Corporations must file Form 1120, which includes schedules for income, deductions, and tax computations. Electronic filing is available for tax returns, extensions, and employment tax forms. Form 7004 ...

If you aren’t able to meet this April deadline, you can also request a filing extension using Form 4868. If your request is approved you will have until October 15 to file your tax deductions.

Form 1120-S is a tax document used by S Corporations in the United States to report their financial activity to the Internal Revenue Service (IRS). An S Corporation is a special type of business ...

SHIF deductions will be particularly painful for high income earners, whose contributions will go up by as much as 1,500 per cent for those earning between Sh500,001 and Sh1 million per month, who ...

“Other mandatory deductions include state-imposed Professional Tax, Employee State Insurance (ESI) for health benefits, and various loan repayments, all of which can affect your take-home salary.