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STANDARD DEDUCTION FOR SENIORS
NCLT rejects insolvency plea against Noida Metro Rail Corporation over pre-existing disputesThe National Company Law Tribunal has rejected an insolvency plea against Noida Metro Rail Corporation. The tribunal found genuine disputes...- Pension is salary, family pension is not: Key tax rules pensioners must know before filing ITR for AY 2026-27Pension and family pension are taxed differently under the Income-Tax Act, yet many taxpayers continue to confuse the two while filing retu...
- Zero income tax on Rs 15 lakh CTC? Here’s how these allowances and perks can cut your tax under new tax regimeSalaried individuals can significantly reduce their tax liability under the new tax regime by strategically utilizing allowances and perqui...
- Stop overpaying taxes: SSA rules explained — hidden ways to saveMany people think Social Security Administration income is always tax-free, but that is not true. Taxes depend on your total income and rul...
- Turning 60 this year? Senior citizen can file Form 121 to prevent TDS for the Tax Year 2026-27; Check how to avail and key details herePeople turning 60 at any point during the financial year can now claim senior citizen benefits for the full year while filing the new Form ...
- Don’t miss out: Smart last-minute tax moves to boost deductions before April 15Tax tips before April 15 deadline: With the April tax deadline approaching, organize your documents and explore deductions for retirement a...
- New tax deduction for retirees — here’s exactly how Social Security users can qualifyA new tax deduction may help seniors lower their taxable income and reduce chances of paying tax on Social Security. People aged 65 and abo...
- IRS adds Schedule 1-A form for 2025, miss it and you could lose tax breaksSchedule 1-A is a new tax form for 2025 that many people must file to get extra tax benefits. It includes deductions for overtime, tips, ca...
- The $6,000 senior tax break: What it means and who can claim the new deductionA new tax rule in the United States gives many older adults a chance to reduce their taxable income. Seniors aged 65 and above may qualify ...
- Seniors could slash their tax bills using these 3 little-known money-saving tacticsSeniors in the US can reduce their tax bills using three simple methods. People aged 65+ can claim extra deductions and use a new senior ta...
- $6,000 senior tax deduction 2026: are you eligible under new IRS income limits before 2028 expiration?$6,000 senior tax deduction 2026: Over 58 million seniors can now claim a new $6,000 tax deduction in 2026. This "Senior Bonus" helps Ameri...
- IRS tax refunds: This strategic change in filing income tax to bring more refunds. Details hereIRS tax more filers may want to contemplate itemizing because of other changes, namely, a more generous deduction on state and local taxes ...
- 2 tax changes are set to increase Social Security checks for millions of beneficiariesSocial Security beneficiaries could see bigger checks in 2026 as new federal tax changes take effect. Starting January 26, 2026, seniors ca...
- How the 2025 tax law changes your 2026 return: What to know before you fileThe One Big Beautiful Bill Act of 2025 introduces significant tax changes for 2026 filings. Key reforms include new deductions for tips and...
- 2026 social security tax changes, what seniors need to know about the benefits, eligibility, and when it startsRetirees will soon see a new tax deduction for Social Security benefits. This temporary relief begins in 2025 and lasts until 2028. Eligibl...
- Are you 65 or older? You could get a $6,000 bonus tax deduction under Trump’s new lawDonald Trump's new tax law, potentially offering up to $6,000 per senior citizen, was signed. Starting in 2025 and lasting through 2028, in...
- Why most seniors will pay less or nothing in Social Security taxes under new tax lawThe Social Security Administration claimed that nearly 90% of beneficiaries would avoid federal taxes on their benefits due to Trump's tax ...
- Which tax regime should senior citizens opt for post-budget 2023?The revised new tax regime has introduced a standard deduction of Rs 50,000 for pensioners as well including family pensioners. Thus, a sen...
- Will proposed new income tax slabs rates benefit senior citizens? Here’s the answerThe proposed new tax structure does not offer higher tax exemption limit for senior citizens.
- Does pension from EPFO qualify for standard deduction?"The pension received from EPFO is taxable under the head salary and it will qualify for the standard deduction. "
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