What are the Different Types of ITR Forms?
While there are up to nine types of income return forms that a taxpayer could use
to file his returns, only the following forms are to be taken into consideration
by individuals when filing returns as per the Central Board of Direct Taxes.
The following income tax return forms are only applicable to companies and firms:
ITR-1
This income tax return form is also called a Sahaj form. The ITR-1 form is to be
filed solely by an individual taxpayer. Any other assessee liable to pay tax will
not be eligible to avail of this form for the purpose of filing their returns. This
form is applicable for the following:
Individuals who earn income through salary or through means such as pension
Individuals who earn income from a single housing property
Individuals who have no income from any other business or who have no income from
the sale of any assets ie: capital gains
Individuals who do not own any assets or property in countries other than India
Individuals who do not earn income from any country outside India
Individuals whose income from agriculture is below Rs 5,000
Individuals who earn income from various investments or sources such as Fixed Deposits,
Investments, Shares etc
Individuals who have not earned income from any windfall such as lotteries or horse
racing
Individuals who wish to club the income of their spouse or underage child with their
own income, so long as the income to be clubbed is in accordance with the criteria
mentioned above
ITR-1
The ITR-2 Form is generally used by individuals who have accrued income through
the sale of assets or property as well as individuals who earn income from countries
outside India. Individuals or Hindu Undivided Families (HUF) can avail of this form
to file their returns. This form is applicable for the following:
Individuals who earn income through salary or through means such as pension
Individuals who earn income through the sale of assets or property in India ie:
capital gains
Individuals who earn income from more than one housing property
Individuals who do not earn income from any business venture
Individuals who own assets in countries outside of India
Individuals who earn income from countries outside of India
Individuals whose income from agriculture is above Rs 5,000
Individuals who earned income from any windfall such as lotteries or horse racing
ITR-2
ITR-2A
The ITR-2A form was introduced for the assessment year
Individuals who earn income through salary or through means such as pension
Individuals who earn income from more than one housing property
Individuals who have no income from any other business or who have no income from
the sale of any assets ie: capital gains
Individuals who earn income from various investments or sources such as Fixed Deposits,
Investments, Shares etc
Individuals who do not own any assets or property in countries other than India
Individuals who do not earn income from any country outside India
Individuals whose income from agriculture is below Rs 5,000
Individuals who have not earned income from any windfall such as lotteries or horse
racing
ITR-2A
The ITR-3 Form is to be used by a taxpayer who is either an individual or a Hindu
Undivided Family (HUF) who solely operate as a partner in a firm but who do not
conduct any business under the firm or who do not earn any income from the business
conducted by the firm. This form can be filed by those taxpayers whose taxable income
earned from business is only in the form of the following received as a partner:
Salary
Commission
Bonus
Interest
Remuneration
ITR-3
The ITR-4 form is to be used by those individuals who conduct a business or who
earn income through a profession. This form is applicable to any type of business,
undertaking or profession, with no limit on the income earned. Along with the income
earned from business, taxpayers can also club any income they receive from windfalls,
speculation, salaries, lotteries, housing properties etc with their business income.
Any individual ranging from shopkeepers, doctors, designers, agents, retailers,
contractors etc is eligible to file their income tax returns using this form.
ITR-4
ITR-4S
The ITR-4S form is also known as the Sugam form and can be used by any individual
or Hindu Undivided Family (HUF) for filing their tax returns. This form is applicable
for the following:
Individuals who earn income from any business
Individuals who earn income from a single housing property
Individuals who do not earn income through the sale of assets or property in India
ie: capital gains
Individuals whose income from agriculture is below Rs 5,000
Individuals who do not own any assets or property in countries other than India
Individuals who do not earn income from any country outside India
This income tax return form is used in special circumstances and applies to businesses
where any income earned is based on a presumptive method of calculation.
ITR-4S
The ITR-5 form is to be used by only by the following entities for filing income
tax returns:
Firms
Limited Liability Partnerships (LLPs)
Body of Individuals (BOIs)
Association of Persons (AOPs)
Co-operative Societies
Artificial Judicial Persons
Local Authorities
ITR 5
The ITR-6 form is to be used only by companies except those companies or organisations
that claim tax exemption as per Section 11. Those organisations that claim tax exemptions
as per Section 11 are organisations wherein the income received is accumulated from
the property used for the purpose of religion or charity. This particular income
tax return form can only be filed online.
ITR 6
The ITR-7 income tax form is to be filed by individuals or companies that are required
to submit their returns under the following sections:
Section 139(4A) - Under this section, returns can be filed by those individuals
who receive income from any property that is held for the purpose of charity or
religion in the form of a trust or legal obligation
Section 139(4B) - Under this section, returns are to be filed by political parties
provided their total income earned is above the non-taxable limit
Section 139(4C) - Under this section, returns are to filed by the following entities:
Any institution or association mentioned under Section 10(23A)
Any association involved with scientific research
Any institution mentioned in Section 10(23B)
Any news agency
Any fund, medical institution or educational institution
Section 139(4D) - Under this section, returns are to be filed by entities such as
colleges, universities or any other such institution wherein income returns or loss
are not required to be provided in accordance with other provisions outlined in
this section.
ITR 7
Which ITR To File FAQs
Should I attach any document when submitting my income tax return?
It is not necessary to submit any document such as TDS certificates or proof of
investments along with your income tax return. However, it is important for taxpayers
to ensure that they retain these documents as they may have to be submitted to the
tax authorities in case they request it during assessment or inquiry.
Where can I file my income tax return online?
The Income Tax Department has created a separate portal so that individual can file
their income tax returns online. You can visit http://www.incometaxindiaefiling.gov.in
to file your income tax return electronically. Filing your return on this website
is free of cost and you can not only file your return but also generate an e-return
as well as submit your return online. The facility is easy to understand and those
who find it difficult can find an instructional guide which will make it easier
to go about the process of e-filing.
Can I get in touch with someone in case I need to resolve any queries when
e-filing my return?
In case you have any questions or queries when filing your returns online, you can
call 9910077151.
How many different income tax returns forms are available for individuals?
There are totally six ITR forms for individuals, viz. ITR-2, ITR-2, ITR-2A, ITR-3,
ITR-4 and ITR-4S.
What are the income tax return forms that can be used by firms and companies?
Firms can companies can use ITR-5, ITR-6 and ITR-7 to file their returns.
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