Types of Income Tax Returns and Their Applicability

1.       Income from salaries / Pensions

2.       Rent from one house property – Loss not covered

3.       Income from other sources not including lottery income or income from any speculative business – Loss not covered

Note: Total income should not exceed Rs. 50 Lakhs and there should not be taxable dividend

1.       Income from salaries / Pensions

2.       Rent from more than one house property – Losses are also covered

3.       Capital gains

4.       Income from other sources not including lottery income or income from any speculative business– Losses are also covered

(Old ITR-4)

1.       All the incomes covered by ITR-2

2.       Income from business or profession

3.       Income from presumptive business u/s 44AD, 44ADA, 44AE but the turnover or gross receipt must exceed Rs. 2 Crores

Income from all the sources except Salary

Note: Companies do not include the companies having Income from property held for charitable or religious purposes

Income from all the sources except Salary

Note: Trust includes persons / companies under

Section 139(4A) Income derived from property held for charitable or religious purposes wholly or partly

Section 139(4B) Political party

Section 139(4C) Persons claiming exemption u/s 10

Section 139(4D) University, college, institutions not filing return under any other section