Which ITR (Income Tax Return) Form Is Applicable For You?

The form in which, ITR is to be filed is very important. If you file the return in wrong form, the return may get rejected. There are forms’ descriptions listed below. Choose your category, accordingly.

ITR 1 : - If you income is from Salary, Pension, Family Pension, and Interest

ITR 2 : - For Individuals and HUFs (Hindu Undivided Family) not having Income from Business or Profession
ITR 2A : - For Individuals / HUFs not having Income from Business or Profession and Capital Gains and who do not hold foreign assets

ITR 3 : - For Individual / HUFs who is a partner in a firm but does not have income from business or profession or under proprietorship. They will be taxable in respect of Interest/ Salary/ Bonus / Commission remuneration received from partnership firm

ITR 4 : - For Individuals / HUFs who has income from business or profession under proprietorship + salary + house property + lottery winnings + capital gains + speculative income + other sources

ITR 4S : - For Individuals / HUFs having income from presumptive business

ITR 5 : - For firms, AOPs, BOIs, and LLP

ITR 6 : - Company (Except Section 8 companies)

ITR 7 : - Trust/ Political Party/ Section 10 Exempt Institutions/ Section 35 college/ institutions

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