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TAX CREDIT RULES
Tax credit vs deduction in 2026: How a $20,000 credit could cut a $50,000 tax bill to $30,000IRS tax credit and deduction explained: A tax credit and a tax deduction can both lower your tax burden, but they work differently. Here’s ...- Think your Roth IRA lowers your taxes this year? It doesn't, because contributions aren't deductible, and here is who should use it nowMany small business owners fund a Roth IRA expecting an immediate tax break. That calculation is flawed. Roth IRAs run on after-tax income....
- GST Council likely to align export definition with forex earnings, clarify on overseas branch servicesThe GST Council is expected to review a proposal to redefine the definition of export for services. This proposal aims to remove ambiguitie...
- GST shake-up: Council may rejig tax officers' panelsThe GST Council is likely to recast its tax officers' committees to make them leaner as the system matures. It is proposed to reduce the cu...
- Son sells ancestral land for Rs 8 crore, buys 2 more properties; gets income tax notice but wins at ITAT Chandigarh: Know whyA family from Panchkula owned some ancestral land in a village. A member of this family sold his share of the the said land for Rs 8 crore ...
- Social Security October update: 4 major changes coming soon that could affect your 2027 benefitsSocial Security October update: Social Security’s October update is expected to reveal four key changes for 2027, including the cost-of-liv...
- GST 2.0: Council to consider sweeping reforms to unlock tax credit, ease complianceIndia is set to implement significant reforms to the goods and services tax system, which will ease compliance. Changes may include the rel...
- Ease of biz relief in store for small ecomm sellersThe Goods and Services Tax Council meeting is set to discuss proposals benefitting small ecommerce sellers. If approved, these sellers coul...
- AI compute financing needs bankable contracts, lender exit rules: industryThey highlighted these demands at a closed-door meeting on ‘Financing India’s Frontier & Compute Ecosystem’ convened in Delhi by the IndiaA...
- Sell your stocks too soon and you may pay more: How long you hold an asset changes your 2026 Capital Gains Tax, and timing matters hereThe baseline for tax planning in 2026 relies on shifting retirement contribution limits. The IRS adjusted these thresholds, altering the ca...
- Trump’s $500 Obamacare refund checks are going out: Who qualifies, which 30 states are included and how the payments workEligible individuals who bought 2026 coverage via HealthCare.gov but did not receive premium tax credits may get a $500 payment. More than ...
- Max out your 401(k) in 2026: The $24,500 limit could quietly slash your tax bill before year's end, and plenty of workers still miss itThe 2026 401(k) employee contribution limit is $24,500. For a traditional 401(k), contributions generally reduce taxable income now, althou...
- Got a high-deductible plan? How to maximize your $4,400 HSA limit and unlock 3 tax advantages in 2026Health savings accounts (HSA), offer three significant tax advantages for qualified expenses related to medical care. Individuals can contr...
- Tax audit deadline extended: Key checks taxpayers should make before filing income tax returnThe CBDT has announced an extension for tax audit and ITR filing deadlines for Assessment Year 2026-27. Taxpayers must now file their retur...
- Your UPI payment just got a price tag: what it means for GST-registered taxpayersNPCI, which manages UPI, has brought in a merchant discount rate of 0.4% on certain person-to-merchant UPI payments above Rs 2,000.
- PPF interest rate October- December 2026: Has Public Provident Fund interest rate hiked for this quarter?The Ministry of Finance has reviewed interest rates for small savings schemes including the Public Provident. The rates will stay the same ...
- Why is your $1,390 IRS payment missing? What Americans need to know about the payment rumor and Trump’s $2,000 tariff dividendIRS relief payment and $2,000 tariff dividend: Rumors of a new federal stimulus check are circulating online again. Digital posts and unsol...
- My NRI status changed. Will interest earned on my NRE FDs be taxable in India?ET Wealth reader's query: I was an NRI until FY2024–25. After relocating to India, my residential status changed to ‘resident’ from FY2025–...
- Jefferies names Max Financial as its top insurance pick, sees 41% upside despite target cutJefferies has moved Max Financial Services to the top of its life insurance picks, retaining a Buy rating despite cutting its target price....
- US citizen received Rs 30 lakh income tax demand notice in India, was denied India-US DTAA relief due to a mistake: Know how she won at ITAT DelhiRs 30 lakh income tax demand notice and India-US DTAA benefit denied to US citizen; she fights and wins case in ITAT Delhi; Know how
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