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<p>TaxMitra's Income Tax section brings you every notification, circular, and press release from the <strong>Central Board of Direct Taxes (CBDT)</strong> and the Income Tax Department of India, summarized in plain English and Hindi so you never miss a critical update.</p> <p>India's income tax framework, governed by the <strong>Income Tax Act, 1961</strong>, affects over 70 million individual and corporate taxpayers. From annual ITR filing deadlines to mid-year TDS rate changes, the CBDT issues hundreds of notifications each financial year that directly impact how much tax you owe, when you must pay, and what deductions you can claim. Missing a single update can mean penalties under Section 234A, 234B, or 234C — or lost opportunities under deduction chapters like Section 80C, 80D, and 80G.</p> <p>This page tracks all income tax developments in real time, including: <strong>ITR filing deadline extensions</strong> (Forms ITR-1 through ITR-7), changes to <strong>TDS rates and thresholds</strong> under Sections 192 through 206, updates to <strong>advance tax installment dates</strong> (15th June, September, December, and March), new <strong>exemptions and deductions</strong> announced in the Union Budget, and clarifications on contentious issues like capital gains taxation, HRA exemptions, and NRI taxation rules.</p> <p>Each update on TaxMitra answers five essential questions: <strong>what changed</strong>, <strong>who is affected</strong>, <strong>from when</strong> the change applies, <strong>what action you need to take</strong>, and the <strong>penalty for non-compliance</strong>. Our AI reads the original government gazette notification — often dense legalese spanning multiple pages — and distils it into a concise, actionable summary you can read in under 30 seconds.</p> <p>Whether you are a salaried individual tracking your Form 16 and 26AS, a freelancer managing quarterly advance tax, a small business owner navigating TDS compliance, or a chartered accountant staying current for your clients — this page is your single source of truth for Indian income tax developments. All content is sourced directly from <strong>incometaxindia.gov.in</strong>, the <strong>Press Information Bureau</strong>, and the official gazette.</p>