Types of Income Tax Return (ITR) Forms
In this article, you will know about all the different types of Income Tax Return (ITR) forms.
The Income Tax Act mandates separate Tax return forms for different types of taxpayers based on the following factors –
- Source of Income
- Total Income
- Category of Taxpayer (Company, HUF, Individual, Trust, etc.)
There are 7 types of ITR forms. For each form, the required parameters are given below.
ITR 1 or Sahaj
* Individual resident
* Total income upto 50L
* Income from Salary, one house property, other sources (interest), agricultural income upto Rs 5000
(Not for individual who is director in a company or has invested in unlisted equity shares)
ITR 2
* Individual & HUF
* Not having income from profit and gains of business and profession
* Means income from – salary, house property, capital gain, other sources
ITR 3
* Individual & HUF
* Income from profit and gains of business and profession
* Means Income from salary, house property, PGBP, capital gain, other source
ITR 4 Sugam
* For Individual, HUF, and Firm (other than LLP) being resident
* Total income upto Rs 50 Lakh
* Having income from business and profession which is computed under sections 44AD, 44ADA or 44AE (Presumptive taxation)
* Income from salary, house property, pgbp (presumptive taxation), other sources (Interest etc)
(Not for individual who is director in a company or has invested in unlisted equity shares)
ITR 5
*For persons other than – Individual, HUF, Company and person filing form ITR 7
* For – Firms, LLP, Association of person
ITR 6
* Companies, other than companies claiming exemption under section 11
ITR 7
* For persons including companies required to furnish return under sections
139(4A) Charitable /Religious Trust
139(4B) Political Party
139(4C) Scientific Research Institutions
139(4D) University or Colleges or Institutions or khadi and village industries
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