After years of paying into the Social Security system, many seniors are surprised to learn that the benefits they receive after retirement may be subject to federal income tax. This is generally ...

Future income taxes are upcoming tax costs or savings due to discrepancies between financial statements and tax returns.

Eligible deductions under various sections of the Income Tax Act can then be claimed, including Section 80C for Provident Fund, PPF or life insurance, Section 80D for health insurance premiums and ...