Guide to ITR Forms

Guide to ITR Forms at Mytaxreturns.in

Filing your income tax return can be confusing.  Specially when you can see several income tax return forms for different category of tax payers.  In this guide we have explained each income tax return in brief, so that you can avoid any mistakes while filing your return on your own.

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ITR- 1 “SAHAJ”:

For Individuals ONLY having ‘Total Income’ from the following sources:

  • Salary or Pension
  • One House Property (without any brought forward losses)
  • Other sources (Excluding income from lottery and race horses)
  • For reporting any exempt income (in case of Agriculture income upto Rs. 5,000 only)

ITR- 2A:

For Individuals and HUFs having ‘Total Income’ from the following sources:

  • Salary or Pension
  • House Property
  • Other sources (Including income from lottery and race horses)
  • For clubbing of Income under above heads of Income

ITR- 2:

For Individuals and HUFs having ‘Total Income’ from the following sources and particulars:

  • Salary or Pension
  • House Property
  • Other sources (Including income from lottery and race horses)
  • Capital Gains
  • For clubbing of Income under above heads of Income
  • Foreign Assets, Bank accounts and foreign Income

ITR- 3:

For Individuals and HUFs having ‘Total Income’ from the following sources and particulars:

  • Salary or Pension
  • House Property
  • Other sources (Including income from lottery and race horses)
  • Capital Gains
  • For clubbing of Income under above heads of Income
  • Foreign Assets, Bank accounts and foreign Income
  • Any income earned as partner in a ‘Partnership Firm’

ITR- 4:

For Individuals and HUFs having ‘Total Income’ from the following sources and particulars:

  • Salary or Pension
  • House Property
  • Other sources (Including income from lottery and race horses)
  • Capital Gains
  • For clubbing of Income under above heads of Income
  • Foreign Assets, Bank accounts and foreign Income
  • Any income earned as partner in a ‘Partnership Firm’
  • Income from Proprietary Business or Profession

ITR- 4S “SUGAM”:

For Individuals and HUFs having ‘Total Income’ from the following sources and particulars:

  • Salary or Pension
  • One House Property (without any brought forward losses)
  • Other sources (Excluding income from lottery and race horses)
  • For reporting any exempt income (in case of Agriculture income upto Rs. 5,000 only)
  • Business Income taxed on Presumptive Basis (Under Section 44AD and 44AE)

 

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