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Taxpayers opting for the old tax regime can continue to claim deductions on donations made to eligible charitable organisations under Section 80G of the Income Tax Act, 1961. To clarify how such claims will be assessed and verified, the Income Tax Department issued an extensive set of FAQs on December 19, 2025, outlining both substantive…
A legal battle is brewing over the vast fortune of late tycoon Sunjay Kapur, involving his children from ex-wife Karisma Kapoor and his current wife Priya Sachdev. Amidst claims of asset seizure, a report reveals Sachdev allegedly earns a staggering Rs 5 crore monthly, a stark contrast to Sunjay’s mother’s significantly lower income. Late business…
The US Internal Revenue Service (IRS) has announced the new federal income tax brackets and standard deductions for 2026, offering some relief to Americans as they prepare for next year’s tax returns.The IRS usually makes these adjustments in October or November to prevent what’s known as “bracket creep.” This occurs when inflation pushes taxpayers into…
