ITR forms

Confused about which ITR form to select to file your Income tax returns?

Then this is the right place where you can know about it.

Following is the ITRs to file the Income tax returns

ITR 1: For individuals being a resident other than not ordinarily resident having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs.50 lakh. You can't file ITR 1 if your salary exceeds this limit. You can file ITR 2 and this is unknown for most of the CAs.

ITR 2: For Individuals and HUFs not having income from profits and gains of business or profession

ITR 3: For individuals and HUFs having income from profits and gains of business or profession

ITR 4: For presumptive income from Business & Profession ( 44AD, 44AE, 44ADA - For those who run small businesses and books of accounts is not maintained)

ITR 5: For persons other than:- 

           (i) Individual,
           (ii) HUF,
           (iii) Company and 
           (iv) Person filing Form ITR-7

(According to Income tax Act, Person means Individual, HUF, Firm, Company, Local Authority, Artificial Judicial Person, Body of Individuals)

ITR 6: For Companies other than companies claiming exemption under section 11

ITR 7: For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F)

To file your returns feel free to contact us

+91 9242858227, gouthamtaxconsultancy@gmail.com

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