Income Tax Filing in Mangaluru
Income tax filing in Mangaluru is a crucial responsibility for individuals and businesses alike. With the advent of online ITR filing, the process has become more streamlined and accessible. Whether you are a salaried individual, self-employed professional, or a business owner, understanding the nuances of income tax filing in Mangaluru is essential to ensure compliance and avoid penalties.
Who Needs to e-File an Income Tax Return (ITR)
In Mangaluru, several categories of taxpayers are required to e-file their income tax returns. These include salaried individuals, self-employed professionals, business owners such as SMEs, MSMEs, and 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, and charitable and religious trusts.
Income Tax Slab Rates for FY 2024–25 (AY 2025–26)
The income tax slab rates for FY 2024–25 in Mangaluru are categorized under the old and new tax regimes. The old tax regime includes slab rates of 5%, 20%, and 30%, with exemptions based on age. The new tax regime, as per the Union Budget 2025, introduces different slab rates. For more details on the differences between the old and new tax regimes, visit this link.
Mandatory ITR Filing
In Mangaluru, mandatory ITR filing is required for individuals who have 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, or had TDS or TCS exceeding Rs 25,000 (or Rs 50,000 for senior citizens). Additionally, businesses with total sales, turnover, or gross receipts exceeding Rs 60 lakh, and professionals with gross receipts exceeding Rs 10 lakh during the financial year must file ITR.
Income Tax Return (ITR) Forms in Mangaluru
Taxpayers in Mangaluru must file one of the seven ITR forms (ITR-1 to ITR-7) based on their income source, residential status, and taxpayer type. For a detailed understanding of each ITR form, visit this page.
Income Tax Filing Due Dates for FY 2024–25
The income tax filing due dates in Mangaluru for FY 2024–25 are as follows: Individuals and entities not liable for tax audit have an extended deadline of September 15, 2025. Tax audit cases (excluding transfer pricing) must be filed by October 31, 2025, and transfer pricing cases by November 30, 2025. Revised or belated returns are due by December 31, 2025. For more information, refer to this link.
Documents Required for Income Tax Filing in Mangaluru
To file income tax in Mangaluru, ensure you have the following documents: PAN, 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, capital gains documents, rental income proofs, foreign income proofs, and dividend income proofs. For a comprehensive list, visit this page.
Income Tax Filing Procedure in Mangaluru
Follow these steps to file your ITR online in Mangaluru:
- 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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