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Income Tax Forms - Which Form applicable for whom?

Form No.:ITR-1 SAHAJ - For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs. 5,000/-.

 

This Form is not applicable –

  • For an individual who is either Director in a company or has invested in unlisted equity shares.

  • Individuals having brought forward loss or losses to be carried forward under the head House Property.

  • Income or loss from more than one house property.

  • Income from business or profession.

  • Family Pension for residents but not ordinarily residents and non-resident persons.

  • Income chargeable to tax at special rates example winnings from lottery and race horses or losses under this head.

  • Dividend income exceeding Rs. 10 lakhs taxable under Section 115BBDA.

  • Unexplained income (i.e., cash credit, unexplained investment, etc.) taxable at 60% under Section 115BBE.

  • Person claiming deduction under Section 57 from income taxable under the head 'Other Sources' (other than deduction allowed from family pension).

  • Person claiming deduction under Section 80QQB or 80RRB in respect of royalty from patent or books.

  • Person claiming deduction under section 10AA or Part-C of Chapter VI-A.

  • Assessee has any brought forward losses or losses to be carried forward under any head of income.

  • If an individual is taxable in respect of an income but TDS in respect of such income has been deducted in hands of any other person (i.e., clubbing of income).

  • Claiming relief of tax under sections 90, 90A or 91.

  • Person has:

  ■  Income from foreign sources

  ■  Foreign Assets including financial interest in any foreign entity

  ■  Signing authority in any account outside India


 

Form No.:ITR-2 - For Individuals and HUFs not having income from profits and gains of business or profession and not claiming deduction under section 10AA or Part-C of Chapter VI-A.

 

Form No.:ITR-3 - For individuals and HUFs having income from profits and gains of business or profession.

This Form is not applicable for –

  • persons resident in India having income from presumptive business or profession covered under section 44AD, 44ADA and 44AE.

 

Form No.:ITR-4 Sugam - For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE

This Form is not applicable for –

  • an individual who is either Director in a company or has invested in unlisted equity shares.

 

Form No.:ITR-5 - For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7.

Hence, this Form can be filed by –

  • Firm (including LLPs)

  • AOP

  • BOI

  • Local Authority

  • Artificial Juridical Person

  • Business Trust

  • Investment Fund as referred to in Section 115UB

 

Form No.:ITR-6 - For Companies other than those companies claiming exemption under section 11.

 

Form No.:ITR-7 - For persons, including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only.

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