Rising food and housing costs have hit the lowest-income Americans the hardest in recent years.

They explained that middle-class households — those with an annual income that is two-thirds to double the U.S. median household income — had incomes ranging from about $56,600 to $169,800 in 2022.

Ans. Earlier the limit of income for nil tax payment was Rs 7 lac. By increasing this limit to Rs 12 lakh around one crore assessees who were earlier required to pay tax varying from Rs 20,000 to Rs ...

FM Nirmala Sitharaman announced major income tax relief, with no tax payable on income up to Rs 12 lakh. New tax regime to be ...

The old tax regime, which remains unchanged in the 2025 Budget, allows taxpayers to claim various exemptions such as House Rent Allowance (HRA), deductions under Section 80C (like for life insurance ...