The Finance Act, 2023 introduced Clause (h) under Section 43B of the Income Tax Act, which disallows deduction for payments due to Micro and Small Enterprises (MSEs) if not made within the prescribed ...

ITAT Surat held that interest paid in respect of business profit attributable to section 80P (2) of the Income Tax Act is allowable. Accordingly, AO directed to consider direct nexus of interest paid ...

The private equity manager’s carried interest would be $200 million. He would pay a capital gains tax of $40 million. If he had to pay the higher labor income tax rate, he would have to pay $74 ...

Since you haven't yet paid taxes on the interest income you report on your tax return, you'll owe money to the IRS if the taxes due outweigh the amount of taxes you paid throughout the tax year.

Exempt-interest dividends, often paid ... investor's income level, portfolio strategy and long-term financial goals. Investors often use funds that generate exempt-interest dividends to manage tax ...

Tax-exempt interest from U.S. Treasury Securities Tax-exempt interest income can also come from U.S. Treasury Securities. Interest is paid semiannually and subject to federal taxation, but exempt ...

That means your CD interest is taxed at your ordinary federal income tax rate based on your tax bracket. Tax rates for the ...