Income Tax Return (ITR)

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 






ITR 2

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 and is a new income tax return form that can be used by a Hindu Undivided Family (HUF) or an individual taxpayer. The ITR-2A form is applicable for the following:

  • 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 






ITR 3

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 






ITR 4

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 






ITR 5

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 






ITR 6

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 






ITR 7

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

  1. Should I attach any document when submitting my income tax return?
  2. 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.

  3. Where can I file my income tax return online?
  4. 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.

  5. Can I get in touch with someone in case I need to resolve any queries when e-filing my return?
  6. In case you have any questions or queries when filing your returns online, you can call 9910077151.

  7. How many different income tax returns forms are available for individuals?
  8. There are totally six ITR forms for individuals, viz. ITR-2, ITR-2, ITR-2A, ITR-3, ITR-4 and ITR-4S.

  9. What are the income tax return forms that can be used by firms and companies?
  10. Firms can companies can use ITR-5, ITR-6 and ITR-7 to file their returns.

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    Special Offer: Offer Valid Till 31st March 2021

    File Income Tax Return (Salaried Person)  Rs.599/-

    File Income Tax Return (Self Employed Person)  Rs.749/-

    Suitable Form for ITR Filing

    ITR-1 (SAHAJ): resident and ordinarily resident (ROR) individuals having total income of up to ₹50 lakh, having income from salaries, one house property, income from other sources and agricultural income up to ₹5,000.

    Non-residents cannot file ITR-1, irrespective of their source or quantum of income.

    ITR-2: Individuals not having income from profits and gains of business or profession (who cannot use ITR-1).

    ITR-3: Individuals having income from profits and gains of business or profession.

    ITR-4 (SUGAM): Individuals, and firms (other than LLPs), being a resident, having total income up to ₹50 lakh and having income from business and profession computed under the presumptive taxation scheme.

    Due Date Extened for TDS Return

    Government has extended the due date for filing TDS return (Form 24Q) from 30th May 2019 to 30th June 2019 for all TDS deductors across India. The change in due date was announced to help deductors comply with changes to the Form 16 format.

    ---------------------------------------------------------------------------------Updates Regarding INC-22A

    Please note that INC-22A is due on 15th June 2019 for all companies incorporated on or before 1.1.2018. The MCA has also declared that a further due date extension will not be provided and a penalty of Rs.10,000 will be levied for non-compliance along with the Directors being tagged as "Director of Non-Compliant Company". Hence, kindly ensure that INC-22A [ACTIVE eForm] is filed for all companies in which you are a Director.



    Latest Updates!


    1-Quarterly return for registered persons with aggregate turnover up to Rs. 1.50 Crores

    2-Turnover exceeding Rs. 1.50 Crores or opted to file monthly Return.



     



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