Latest Official Tax (Income Tax + TDS) Updates as of June 2025
Income Tax in India: An Overview
Income Tax is a direct tax imposed by the Government of India on the income earned by individuals, HUFs, firms, companies, and other entities during a financial year. It is governed by the Income Tax Act, 1961, and administered by the Central Board of Direct Taxes (CBDT).
Income tax is a major source of revenue for the Central Government, used to fund public services and infrastructure development.
Purpose of Income Tax Collection
-
Public Infrastructure: Roads, schools, railways, digital systems.
-
National Security: Armed forces, defense R&D.
-
Welfare Programs: Schemes like PM-Kisan, Ayushman Bharat, etc.
-
Redistribution of Wealth through progressive taxation.
Sources of Income Under the Act
The Indian tax system categorizes income under six heads:
Income Tax Slab Rates
Tax is charged based on income slabs, under:
Taxpayers can switch between these regimes depending on their financial planning.
Filing of Income Tax Returns (ITR)
Returns can be filed online via the official Income Tax e-Filing Portal.
| ITR Form |
Applicability |
| ITR-1 |
Salaried individuals with income ≤ ₹50L |
| ITR-2 |
HUFs, individuals with capital gains |
| ITR-3 |
Business/professional income |
| ITR-4 |
Presumptive income |
| ITR-5 |
LLPs, Firms, AOPs |
| ITR-6 |
Companies |
| ITR-7 |
Trusts, institutions, etc. |
Tax Deducted at Source (TDS) in India
TDS is a mechanism to collect tax in advance from the income source. It ensures timely government revenue and discourages tax evasion.
TDS is applicable to:
Key Sections & Applicability
| Section |
Transaction Type |
| 194A |
Interest (bank/others) |
| 194C |
Contractor payment |
| 194I |
Rent |
| 194IA |
Sale of immovable property |
| 194IB |
Rent (Individuals/HUFs) |
| 194IC |
Joint Development Agreement |
| 195 |
Payment to NRIs |
Compliance
Latest Updates in Income Tax & TDS (As of June 2025)
Stay current with official notifications released by CBDT:
04 June 2025
Pre-filled ITR-1 & ITR-4 for AY 2025–26
03 June 2025
Due date for Form 64A & 64E preponed to 15 June 2025.
02 June 2025
📅 30 May 2025
ITR-1 & ITR-4 Utilities for AY 2025–26 Released
📅 27 May 2025
ITR Due Date Extended to 15 Sept 2025
📅 20 May 2025
Revised ITR-U Form under Sec 139(8A)
📅 14 May 2025
Tax Exemption to Telangana State Pollution Control Board (Notification No. 47/2025)
📅 12 May 2025
ITR-7 Form Notified under 18th Amendment Rules
📅 08 May 2025
New ITR-V & Acknowledgement Forms
📅 07 May 2025
ITR-6 Form Released – 16th Amendment Rules
📅 05 May 2025
ITR-2 Form – 15th Amendment
ITR-5 Form – 14th Amendment
📅 02 May 2025
ITR-3 Form – 13th Amendment Rules
Final Note
For accurate, updated filing and tax planning, always refer to the official Income Tax website and regularly check the CBDT Notification Section.