Which ITR Form Should You File? - Types of ITR Forms

ITR-1 or SAHAJ

ITR 1 or SAHAJ is applicable to an individual whose total income for the financial year includes:

1. Salary/Pension
2. Income from House Property (Single House)
3. Other sources of income (excluding lottery ticket winnings or race horse earnings)

You cannot use ITR 1 or SAHAJ if:

1. Total income exceeds ₹50 lakhs.
2. Hold foreign assets.
3. Hold agricultural income more than ₹5,000/-
4. Have taxable capital gains.
5. Hold income from Business/Profession.
6. Income from more than one property.

ITR-2

ITR 2 is applicable to an individual/HUF whose total income includes:

1. Salary/Pension
2. Income from House Property (Single House)
3. Other sources of income (including winnings from lottery tickets or race horse earnings)
4. Income from Capital Gains.
5. Income for being a partner in a firm.
6. Income from Foreign Assets.
7. Agricultural income more than ₹5,000/-

Note: Total income should be more than ₹50 lakhs.

You cannot use ITR 2 if:

1. Hold/earn/derive income from a Business or Profession.

ITR-3

Any person (individual or Hindu Undivided Family) who earns income from proprietary business or profession have to use ITR 3 form. People who are applicable include those who earn:

• Income from Business/Profession.
• Incomes from house, salary, pension and other sources.

ITR-4 or Sugam

All individuals (single or HUF) who have income from business or profession and have opted for the presumptive income scheme as per Sec 44AD, Sec 44ADA and Sec 44AE of the Income Tax Act, 1961.

Note: If the turnover from the business exceeds ₹2 crores, you will be required to fill ITR-3.

ITR-5

This application form is to be used by the following bodies while filing taxes.

1. LLPs - Limited Liability Partnerships
2. Firms
3. AOPs - Association of Persons
4. BOIs- Body of Individuals
5. Co-operative Societies
6. Local Authority
7. Artificial Judicial Persons

ITR-6

This application form is for companies except for those companies claiming exemption under Sec 11. Companies which claim exemption under Sec 11 are those companies whose income is received from the property used for the purpose of charity or religion.

Note: This form can only be submitted electronically online.

ITR-7

This application form is for individuals and companies who are required to furnish returns under Sec 139(4A) or Sec 139(4B) or 139(4C) or Sec 139(4D).

• Sec 139(4A): Required to be filed in case of income derived from property held under trust or other legal obligation wholly for religious or charitable purposes.

• Sec 139(4B): Required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount which is not chargeable/added to income-tax.

• Sec 139(4C): Required to be filed by every Scientific Research Association, News Agency, Association/Institution under Sec 10(23A), Institution referred under Sec 10(23B) like Fund | Institution | University | Educational Institution | hospital | Medical Institution.

• Sec 139(4D): Required to be filed by every university, college or other institution which are not required to furnish return of income or loss under any other provision of this section.