Income tax returns (ITR) Form

ITR- 1: Income: If the Income is less than Rs.50 lakh Source of Income:

Ø Salary or Pension

Ø One House Property

Ø Other sources

Applicable to:

Ø  Individuals who qualify as Residents and Ordinary Residents (ROR)

Ø  Individuals whose total income consists of the following:

Ø  Salary or Pension

Ø  One House Property (excluding the cases where losses are carried forward from previous year)

Ø  Other sources (other than winnings from lottery and maintaining race horses)

ITR- 2: Income: If the income is more than Rs.50 lakh Source of Income:

Ø Salary or Pension

Ø One House Property

Ø Capital Gains

Ø Income from partnership firm

Ø Foreign income

Ø Income from agriculture amounting to more than Rs.5,000

Ø Other sources

Applicable to:

Ø  An Individual or a Hindu Undivided Family (HUF) -

Ø  Who is not eligible to file ITR- 1 or Sahaj

Ø  Who does not draw any income from Business or Profession

ITR- 3: Income: If the income is more than Rs.50 lakh Source of Income:

Ø    Salary or Pension

Ø    One House Property

Ø    Capital Gains

Ø    Income from partnership firm

Ø    Foreign income

Ø    Income from agriculture amounting to more than Rs.5,000

Ø    Income from Business or Profession

Ø    Other sources

Applicable to:

Ø    An Individual or a Hindu Undivided Family (HUF) who is drawing income from Business or Profession

ITR- 4: Income: Tentative income arising from business activities -

Ø Under Section 44AD

Ø Under Section 44ADA

Ø Under Section 44AE

Applicable to:

An Individual or a Hindu Undivided Family (HUF) or a Partnership Firm who has:

Ø Presumptive business income

Ø Income from Salary or Pension

Ø Income from One House Property (excluding the cases where losses are carried forward from previous year)

Ø Income from other sources (other than winnings from lottery and maintaining race horses)

ITR- 5:

ITR- 5 is applicable to the following:

Ø Firms

Ø Association of Persons or AOPs

Ø Body of Individuals or BOIs

Ø Limited Liability Partnership or LLPs

ITR- 6:

The companies that do not claim exemptions under Section 11 are eligible for ITR- 6 form.

ITR- 7:

The ITR- 7 is applicable to individuals and companies who fall under one of the following:

Ø Section 139 (4A)

Ø Section 139 (4B)

Ø Section 139 (4C)

Ø Section 139 (4D)

Income tax returns (ITR) forms: which ITR form applies to you for?

section 139(4A: इसके तहत वो लोग आते हैं जिनकी आमदनी किसी charitable या religious purposes के लिए बनाए गए ट्रस्ट की प्रॉपर्टी से हुई हो। चाहे पूरी आमदनी ऐसे source से हो या आमदनी का कुछ ऐसा ऐसे source से हासिल हुआ हो, तब भी। रिटर्न भरने में ऐसी आमदनी की उपयुक्त रसीद भी उनको पेश करनी होती है।

section 139(4B): इसके तहत वे राजनैतिक पार्टियां आती हैं, जिनको चंदे वगैरह से total income अधिकतम टैक्स छूटयोग्य आमदनी से ज्यादा हो रही हो। यानी की जिनकी इनकम Taxable हो। Return भरने के दौरान अपनी आमदनियों की उपयुक्त रसीद भी प्रस्तुत करनी पड़ती है।

section 139(4C): इसके नियम के तहत जो संस्थाएं रिटर्न दाखिल करती हैं, उनमें scientific research association, न्यूज एजेंसियां,शैक्षिक संस्था या संबंधित फंड, यूनिवर्सिटी, hospital या मेडिकल संस्थान आदि शामिल है। इनके अलावा सेक्शन 10(23A)के तहत आने वाले association या institution भी इसी कैटेगरी में आते हैं।

section 139(4D):ये रिटर्न उन सभी university, college or other institution को दाखिल करना पड़ता है, जिन्हें इस सेक्शन के अलावा अन्य किसी प्रावधान के तहत अपने income or loss का रिटर्न नहीं भरना पड़ता।