MUMBAI: The New Income Tax Bill 2025, which will replace the 1961 Act, is an attempt at simplifying the tax rules. While the ...

Also, the concept of assessment year has been done away with. Currently, for income earned in the previous year (say 2023-24) ...

If phantom income is not properly analyzed by counsel and the court in a matrimonial case, the result perforce may be ...

My question is based on what I thought the rules were for Roth contributions, which is that you must have earned income to contribute. How can a retiree roll funds into a Roth IRA without having a ...

Every year in January, the IRS dedicates a day to Earned Income Tax Credit (EITC) awareness. This tax credit, also known as the earned income credit (EIC) allows eligible people with low-to ...

First-time filers sometimes fall into the trap of believing that only full-time, permanent employees have to file and pay taxes. That's not true. You may be required to file as a part-time or seasonal ...

Workers who are paid low wages — and in many cases are trying to raise children on overstretched paychecks — can qualify for a financial boost by claiming the earned income tax credit on their ...

MANILA, Philippines — The Philippines might only be able to break free from the “middle-income trap” in 2050 as it struggles to corner more job-generating foreign investments, Nomura said in ...

How your passive income is taxed depends on how it's earned, the accounts you use to generate it, and when you access the cash. For instance, interest you earn in a savings account or money market ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

FreshSplash / Getty Images Ordinary income is income earned by an entity or an individual that is taxable at marginal tax rates. It can include wages, salaries, tips, bonuses, commissions ...

Given that, she said she feels ready for this next step in her career. “I feel like I’ve earned it, so I’m excited,” she said. “I think I’ve earned the moment.” Clarkson first signed ...