Income tax return: Key things to know about using different ITR forms

 







ITR - 1 (SAHAJ)


ITR - 1 (SAHAJ) can be used by an individual whose total income includes income from salary/pension, or income from one house property (excluding cases where loss is brought forward from previous years); or income from other sources (interest etc.), and agricultural income up to Rs 5,000.

ITR-2

ITR-2 can be used by an individual and Hindu Undivided Family who is not eligible to file​​ ITR-1 Sahaj​ and not having income from “profit and gains of business or profession” and also not having income from “Profits and gains of business or profession” like interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from a partnership firm.

ITR-3

ITR-3 can be used by an individual or a Hindu Undivided Family who is having income from profits and gains of business or profession. ​​​ITR – 3 is also required to be filed by a person whose income is chargeable to tax under the head “Profits and gains of business or profession” like interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from a partnership firm.
ITR-4

ITR-4, also known as Sugam, is available for Individuals, HUFs, and firms (other than LLP) being a resident having total income up to Rs 50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE under Income Tax Act. LLP or limited liability partnership is a partnership in which some or all partners have limited liabilities.

ITR-5

This form is available for persons other than individuals, HUF, company, and person filing Form ITR-7.

ITR-6

This is available for companies other than companies claiming exemption under section 11 of the Income Tax Act.

ITR-7

This is available for persons including companies required to furnish returns under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only under Income Tax Act.



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