Income Tax Filing in Bareilly
Filing income tax returns is a crucial responsibility for individuals and businesses in Bareilly. Understanding the nuances of income tax filing in Bareilly can help you comply with the legal requirements and avoid penalties. Whether you are a salaried individual, self-employed professional, business owner, or investor, knowing the specifics of income tax filing in Bareilly is essential.
Who Needs to e-File an Income Tax Return (ITR)
In Bareilly, various categories of taxpayers are required to e-file their income tax returns. These include:
- Salaried Individuals
- Self-Employed Professionals
- Business Owners (SMEs, MSMEs, Startups)
- Directors and LLP Partners
- Investors and Capital Gains Earners
- NRIs and RNORs
- Holders of Foreign Assets or Income
- High-Value Transaction Individuals
- Those Claiming Tax Refunds
- Charitable and Religious Trusts
Income Tax Slab Rates for FY 2024–25 (AY 2025–26)
Understanding the income tax slab rates is vital for residents of Bareilly. The Old Tax Regime and New Tax Regime have different slabs:
Old Tax Regime Slab Rates
- Below 60 years: Rs.2.5 lakh
- 60–80 years: Rs.3 lakh
- 80+ years: Rs.5 lakh
- Slabs: 5%, 20%, 30% as per ranges
New Tax Regime (2025)
- Up to Rs.4,00,000 – Nil
- Rs.4,00,001 to Rs.8,00,000 – 5%
- Rs.8,00,001 to Rs.12,00,000 – 10%
- Rs.12,00,001 to Rs.16,00,000 – 15%
- Rs.16,00,001 to Rs.20,00,000 – 20%
- Rs.20,00,001 to Rs.24,00,000 – 25%
- Above Rs.24,00,000 – 30%
Mandatory ITR Filing
In Bareilly, filing an ITR is mandatory for individuals who:
- Deposited Rs 1 crore or more in current bank accounts
- Deposited Rs 50 lakh or more in savings bank accounts
- Spent over Rs 2 lakh on foreign travel
- Incurred electricity expenses exceeding Rs 1 lakh during the financial year
- Had TDS or TCS exceeding Rs 25,000 (or Rs 50,000 for senior citizens)
- Businesses: Mandatory if your total sales, turnover, or gross receipts exceed Rs 60 lakh during the financial year
- Professionals: Mandatory if gross receipts exceed Rs 10 lakh during the financial year
Income Tax Return (ITR) Forms in Bareilly
Taxpayers in Bareilly must file the appropriate ITR form based on their income source and taxpayer type:
- ITR-1: Salaried individuals with income up to Rs.50 lakh
- ITR-2: Individuals and HUFs not having income from business or profession
- ITR-3: Individuals/HUFs with income from business/profession
- ITR-4: Presumptive income scheme for small businesses and professionals
- ITR-5: Firms, LLPs, AOPs, BOIs, etc.
- ITR-6: Companies other than those claiming exemption under section 11
- ITR-7: Trusts, political parties, institutions, etc., filing under specific sections (139(4A), 139(4B), etc.)
Income Tax Filing Due Dates for FY 2024–25
For taxpayers in Bareilly, the income tax filing due dates are as follows:
- Individuals & Entities Not Liable for Tax Audit: Extended deadline - September 15, 2025 (originally July 31, 2025)
- Tax Audit Cases (excluding Transfer Pricing): October 31, 2025
- Transfer Pricing Cases: November 30, 2025
- Revised/Belated Returns: December 31, 2025
Documents Required for Income Tax Filing in Bareilly
Ensure you have the following documents ready for income tax filing in Bareilly:
- PAN (Permanent Account Number)
- Aadhaar (Linked to PAN)
- Bank Account Details
- Salary Slips
- Rent Receipts
- Form 16, Form 16A, Form 16B, Form 16C
- Form 26AS
- Interest Certificates (from banks/post offices)
- Home Loan Details
- Proof of Tax-Saving Instruments (LIC, Health Insurance, PPF, NSC, ELSS, etc.)
- Capital Gains Documents (stocks, property, etc.)
- Rental Income Proofs (lease agreements, rent receipts)
- Foreign Income Proofs
- Dividend Income Proofs
Income Tax Filing Procedure in Bareilly
Follow these steps to file your ITR online in Bareilly:
- Go to the e-Filing Website
- Login: Enter your PAN (as username) and password
- Start Filing: Click on “e-File” and “File Income Tax Return”
- Select Year & Mode: Choose AY 2025–26 and "Online" filing
- Pick Taxpayer Type: Select "Individual", "HUF", etc.
- Choose Correct ITR Form: Based on your income type
- Mention Filing Reason: Regular, refund, or revised return
- Check Pre-filled Data: Verify and edit if needed
- Review & Submit: Double-check and submit your return
- Pay Tax (if needed): Use the portal’s payment option
- e-Verify ITR: Using Aadhaar OTP (sent to your mobile)
- Using EVC (via bank, Demat, or email/mobile)
- Or Send ITR-V by Post to CPC Bengaluru within 120 days
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