Tax Guru

Bogus Purchase Bills, Real Sales- ITAT Says Tax Only the Profit – Not a Blind 25% Cut

The Tribunal upheld the application of the assessee's own 1.39% Gross Profit rate on the bogus purchases, rejecting the AO's arbitrary 25% ...
Tax Guru

One Commission, Two Tax Demands? ITAT Says: Verify First – No Double Taxation

The ITAT remanded the assessment for an individuals commission income, ruling that the Assessing Officer (AO) must first verify if the income was already offered to tax by the company of which the ...

Child Tax Credit, EITC, & More: Three IRS Tax Breaks Getting Bigger Soon

Key family tax breaks are higher for 2026, including the Earned Income Tax Credit and the Adoption Credit. Here's what ...

Single Withholding vs. Married Withholding: What’s the Difference?

Your tax filing status—single, married, or head of household—can affect how much money your employer withholds from your paychecks to cover your estimated taxes.