Income Tax Filing in Bihar
Filing your income tax return is a crucial responsibility for taxpayers in Bihar. With the increasing emphasis on digital processes, e-filing income tax return in Bihar has become a streamlined and efficient method. Whether you are a salaried individual, a business owner, or a professional, understanding the nuances of income tax filing is essential to ensure compliance and avoid penalties.
Who Needs to e-File an Income Tax Return (ITR)
In Bihar, various categories of individuals and entities are required to file an income tax return. These include:
- Salaried Individuals with income exceeding the basic exemption limit.
- Self-Employed Professionals such as doctors, lawyers, and freelancers.
- Business Owners including SMEs, MSMEs, and startups.
- Directors and LLP Partners involved in company operations.
- Investors and Capital Gains Earners from securities or real estate.
- NRIs and RNORs with income sourced in India.
- Holders of Foreign Assets or Income.
- Individuals involved in High-Value Transactions.
- Those Claiming Tax Refunds.
- Charitable and Religious Trusts operating in Bihar.
Income Tax Slab Rates for FY 2024–25 (AY 2025–26)
Understanding the tax slab rates is crucial for effective tax planning. Below are the details for both the old and new tax regimes as per the Union Budget 2025:
Old Tax Regime Slab Rates
- Below 60 years: Up to Rs. 2.5 lakh - Nil
- 60–80 years: Up to Rs. 3 lakh - Nil
- 80+ years: Up to Rs. 5 lakh - Nil
- 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
Filing an income tax return is mandatory for individuals and entities in the following scenarios:
- 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 Bihar
Taxpayers in Bihar must file one of the seven ITR forms based on their income source, residential status, and taxpayer type. Here's a brief overview:
- 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
Stay informed about the due dates to avoid penalties:
- 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 Bihar
Ensure you have the following documents ready for a smooth filing process:
- 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 Bihar
Follow these steps to file your ITR online in Bihar:
- 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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