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Types of Income Tax Returns and Their Applicability

Please consult the following table to know about types of various types of Income Tax Returns

Form Who can File Type of Income
ITR-1 Only Individual

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

ITR-2 Individual/ HUF

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

ITR-3

(Old ITR-4)

Individual/ HUF

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

ITR-4 (Old ITR -4S) Individual/ HUF Income from presumptive business u/s 44AD, 44ADA, 44AE but the turnover or gross receipt does not exceed Rs. 2 Crores
ITR-5 Partnership firms/ LLPs / AOPs / BOIs Income from all the sources except Salary
ITR-6 Companies

Income from all the sources except Salary

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

ITR-7 Trust

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

 

Please visit http://incometaxindiaefiling.gov.in/ to download the utility for the applicable forms under the heading downloads.

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