Salaried employees often claim House Rent Allowance (HRA) for rent paid to family members, such as parents or spouses, under the current tax regime. However, under the proposed draft Income-tax Rules, 2026, such arrangements may soon undergo closer scrutiny, especially if the rent exceeds Rs 1 lakh in a financial year. The new rules, if implemented, would require taxpayers to disclose their relationship with the landlord along with other details like the landlord’s name, address, and PAN nu

Many taxpayers are facing a frustrating wait for their tax refunds as nearly 24 lakh income tax returns (ITRs) for the Assessment Year 2025–26 have been pending for more than 90 days. According to the Minister of State for Finance, Pankaj Chaudhary, as of February 4, 2026, out of 8.79 crore ITRs filed, approximately 24.64 lakh were yet to be processed, leaving millions of individuals waiting for their refunds. The large backlog has triggered concerns, especially for senior citizen

The Internal Revenue Service has announced that the 2026 tax filing season will officially begin on Monday, Jan. 26, giving taxpayers the green light to submit their 2025 individual income tax returns. The agency expects to process approximately 164 million returns during the upcoming season, with the vast majority filed electronically. Officials say new tax law provisions could lower tax liabilities for some filers and potentially increase refund amounts, while operational changes may alter

For Non-Resident Indians (NRIs) juggling financial commitments in both India and the United States, tax filing often becomes a yearly stress point. Each country has distinct regulations, reporting formats, and deadlines. The slightest oversight can lead to penalties or double taxation. That’s where Artificial Intelligence (AI) is proving to be a game-changer. Today, AI-powered tax tools are helping NRIs simplify,

Many errors occur when taxpayers fail to complete all parts of the Excel utility properly. According to Mihir Tanna, Associate Director at S.K Patodia LLP, a common mistake is forgetting to fill in the last row of the Capital Gains schedule row F. It’s essential to enter the quarter-wise details and click the ‘Validate’ button at the top of the sheet. Without this step, your tax details, including capital gains and taxes, may not show up cor

President Donald Trump’s authorization of military strikes on three key Iranian nuclear sites has triggered strong reactions across the world. In a national address on Saturday night, Trump declared that the targeted nuclear enrichment facilities were “completely and totally obliterated,” warning that Iran must choose peace or face “far greater and a lot easier” future strikes. He called Iran “the bully of the Middle East” and framed the military acti

US President Donald Trump has described recent military strikes on Iranian nuclear sites as an act of "obliteration," even as official assessments continue to question the extent of the actual damage inflicted. The strikes, which targeted three major nuclear facilities in Iran early Sunday morning local time, have triggered a wave of scrutiny over how significantly Tehran’s nuclear program was impacted. Trump, however, insisted the damage was monumental and backed his claims w

The Indian Premier League (IPL) 2025 has been suspended indefinitely, following growing hostilities between India and Pakistan. The decision, confirmed by a senior BCCI official on Friday, came in the wake of heightened military tension, multiple air raid alerts, and nationwide blackouts that disrupted not just civilian life but also major sporting events. The league’s suspension was triggered by the mid-match cancellation of Thursday’s clash between Punjab Kings and D

In a groundbreaking development for Indian higher education, the Illinois Institute of Technology (Illinois Tech) has received official approval from the University Grants Commission (UGC) to establish a degree-granting campus in India. The Chicago-based university’s Mumbai campus is set to open in 2026, offering undergraduate and postgraduate programs in computer science, engineering, and business. This makes Illinois Tech the first US university to receive UGC approval under India&rsq

Millions of borrowers with defaulted federal student loans will soon face renewed consequences as the U.S. government resumes collections. The Department of Education has confirmed that, beginning May 5, it will refer defaulted loans to the Treasury Department’s offset program. This program allows the government to garnish wages, withhold tax refunds, and seize portions of Social Security checks to collect unpaid student debt. These measures officially end the collections pause introduced

In a controversial move that could reshape the global entertainment industry, U.S. President Donald Trump has proposed a sweeping 100% tariff on all movies made outside the United States. Trump announced the policy through a post on Truth Social, where he claimed the measure is essential to revive what he described as a declining American film industry. According to Trump, Hollywood is "dying fast" as filmmakers increasingly choose to work with international studios offering better fin

The Income Tax Department has officially released the Income Tax Return (ITR) forms 1 and 4 for the assessment year 2025–26, enabling individual taxpayers, Hindu Undivided Families (HUFs), and firms (excluding LLPs) with total income up to ₹50 lakh to begin filing their income tax returns. This marks the beginning of the tax season for income earned during the financial year April 1, 2024, to March 31, 2025. Taxpayers must submit their returns by the due date of July 31, 2025, to avoid l

In an eye-opening revelation that underscores the worsening cost-of-living crisis in California, new data shows that individuals earning over $100,000 annually in four Bay Area counties are now classified as "low income." According to a recent report from the California Department of Housing and Community Development, single residents in Marin, San Mateo, San Francisco, and Santa Clara counties fall into this category despite salaries that would be considered high in most parts of the

The Alameda County Fairgrounds, located in Pleasanton, California, is home to hundreds of low-income residents who face the prospect of displacement within the next month. This comes as a result of a significant decision that will alter the landscape of horse racing in Northern California. The California Authority of Racing Fairs (CARF) has announced the cancellation of all horse racing events for 2025 in the region, a move that directly affects the future of the Alameda County Fair.

In a significant policy shift, the United States government has implemented a rule mandating that all foreign nationals residing in the country for more than 30 days must register with federal authorities. This measure, rooted in historical legislation, has been revived and is now being enforced with renewed vigor. The rule stipulates that non-citizens aged 14 and above must submit their personal information, including fingerprints and residential addresses, to the U.S. Citizenshi

Sheikh Hamdan Bin Mohammed Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence of the United Arab Emirates, will begin a two-day official visit to India on Tuesday, at the invitation of Prime Minister Narendra Modi, the Ministry of External Affairs (MEA) announced Monday. This marks the first official visit to India by Sheikh Hamdan in his capacity as Crown Prince and will include meetings with top Indian leadership as well as engagements aimed at strengthening b

  Purchasing a home has become more financially demanding for potential buyers, with a new study highlighting the necessity for a household income over $100,000 in several states. According to Bankrate’s 2025 Housing Affordability Study, 30 states and Washington, D.C. now require at least this much in annual household income to afford a typical home in the area. The data further sheds light on the stark contrast between high-income regions, li

As the new financial year commences on April 1, 2025, several significant income tax changes have officially come into effect, directly impacting salaried individuals, senior citizens, investors, and taxpayers across the country. Announced during Budget 2025, these updates aim to simplify compliance, improve transparency, and provide substantial relief to the middle class. From revised tax slabs to increased deduction limits and changes in TDS thresholds, here’s a complete breakdown of

In 2014, former U.S. Supreme Court justices Ruth Bader Ginsburg and Antonin Scalia were asked whether undocumented immigrants are entitled to the rights outlined in the First Amendment of the U.S. Constitution, which guarantees freedoms such as religion, speech, press, assembly, and petition. Both justices agreed that these rights apply to anyone present in the United States, regardless of their immigration status. Ginsburg explained that the Constitution does not limit its protections to cit

Tulsi Gabbard, the US Director of National Intelligence (DNI), emphasized the growing strength of US-India relations during her visit to New Delhi. In an exclusive interview with NDTV, Gabbard highlighted the close ties between Prime Minister Narendra Modi and President Donald Trump, underscoring their shared commitment to defeating Islamic terrorism and ensuring global security. “The ties between the US and India go very far back,” Gabbard stated. “In Trump's second ter