As per section 139(1) of the Income Tax Act, 1961 in the country, individuals whose total income during the previous year exceeds the maximum amount not chargeable to tax, should file their income tax returns (ITR).
Forms of ITR:-
ITR-1 (SAHAJ)
This Return Form is to be used by an individual whose total income for the assessment year 2016-17 include Income from Salary/ Pension, One House Property, Other Sources.
ITR-2
This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2016-17 includes Income from Salary/Pension, House Property, Capital Gains, Other Sources.
ITR-2A
This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2016-17 includes Salary or Pension Income, multiple house properties, No business income/ No capital Gains, other sources, Agriculture Income of more than Rs. 5,000, Income from lottery or horse racing.
ITR-3
This Return Form is to be used by an individual or an Hindu Undivided Family who is a partner in a Partnership Firm or LLP and where income chargeable to income-tax under the head Profits or gains of business or profession
ITR-4S (SUGAM)
Income tax Return to be filed by individuals, HUF and small business taxpayers having Presumptive Business Income, Salary / Pension, One house property, Income from other sources.
ITR-4
For individuals and HUFs having income from a proprietory business or profession.
ITR-5
For firms, LLPs, AOPs (Association of persons) and BOIs (Body of Individuals)
ITR-6
For Companies other than companies claiming exemption under section 11 (Income from property held for charitable or religious purposes).
ITR-7
For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D).
- Return under section 139(4A) is required to be filed by every person in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or in part only for such purposes.
- Return under section 139(4B) is required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount which is not chargeable to income-tax.
- Return under section 139(4C) is required to be filed by every –
- scientific research association;
- news agency ;
- association or institution referred to in section 10(23A);
- institution referred to in section 10(23B);
- fund or institution or university or other educational institution or any hospital or other medical institution.
- Return under section 139(4D) is required to be filed by every university, college or other institution, which is not required to furnish return of income or loss under any other provision of this section.
join For Updates