The deduction limit remains clearly stated within the section, while the schedule provides an easy-to-understand breakdown of ...

In Budget 2025, the government opted not to modify the existing tax regime or introduce any new deductions. Finance Minister ...

I then invest this total amount into a retirement annuity (RA), as I do not require these funds. On submitting my tax return, I can claim a deduction per the current statutory tax rules.

When your insurance terminates, your employing office must give you a Notice of Conversion Privilege (SF 2819). If you wish ...

For salaried Indians, a higher income offers greater opportunities for saving and investing. However, understanding the tax ...

In this guide, we’ll break down how non qualified annuities work, their tax implications and help you decide if they’re the ...

The tax benefits of donating annuity assets to qualified charities can be significant, especially if you’re philanthropic. It is often possible to deduct the value of the donated annuity from ...

Planning for retirement is one of the most important financial steps you can take, yet many South Africans delay saving for ...

Also read: Are you an employee or consultant? Your income tax deductions depend on it NPS annuity receipts are taxable under Indian income tax law under the head ‘Income from Other Sources’ at ...

For 2024, taxpayers can contribute up to $7,000 to traditional IRAs, with those 50 and older eligible for an additional ...