Tax Return 1040: Standard Deduction vs Itemized Deduction Tax Return for Individuals (in USA) Form 1040 provides option of selecting Deductions from income either Standard or Itemised. The Standard deduction is a fixed amount that reduces the income you’re taxed on but for itemized deductions, you need to keep track of […]
US TAX RETURNS – CA Vishal Jagetiya, CA Shivam Thakkar 1. Introduction The U.S. tax system is set up under both a federal and state level. There are several types of taxes such as income, sales, capital gains, etc. Federal and state taxes are completely separate and each one has is […]
In a Historical turn of events, India has reached FATCA agreement in substance with the USA and has consented to be included in the list of jurisdictions that are treated as having a Inter-Governmental Agreement (IGA) under Model-1 with an effective date of April 11, 2014..…THIS IS HUGE….I have been telling […]