Which Income Tax Return (ITR) Form should I file?

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Hiral Vakil

ITR Forms
ITR-1
ITR-2
ITR-3
ITR-4

Before you start filing your taxes, you need to know the correct Income Tax Return – ITR form to file. Income tax department issues the ITR forms based on:

  1. The Type of Taxpayer,
  2. Source of Income earned by the taxpayer.

These ITR Forms will be applicable for a particular financial year. Hence one needs to select correct ITR before filing it.

31st July
ITR filing Due Date for taxpayers to whom Tax Audit is not applicable.
31st July
ITR filing Due Date for taxpayers to whom Tax Audit is not applicable.

What are the different ITR Forms?

Although the Income Tax Department (ITD) has prescribed 7 different ITR forms, taxpayers have to choose the one which is applicable to them.

Following ITR Forms are prescribed for Individuals (Non-corporate assessees):

ITR Form Description
ITR 1 (SAHAJ) The most basic ITR form for individuals having income up to Rs. 50,00,000 from salary/pension, one house property, and interest.
ITR 2 For individuals/HUF having income from salary/pension, multiple house property, capital gains, interest, and partner’s income from the partnership firm.
ITR 3 For individuals/HUF having income from salary/pension, multiple house property, capital gains, interest, and income from proprietary business or profession.
ITR 4 For individuals/HUF/Partnership firms having income from presumptive business or profession.
Check which ITR Form to file?
Income Tax Return Forms to file depends on your Income Source, Residential Status, and other financial situation. Know which ITR Form you should file.
Explore
Check which ITR Form to file?
Income Tax Return Forms to file depends on your Income Source, Residential Status, and other financial situation. Know which ITR Form you should file.
Explore

Following ITR Forms are prescribed for corporate assesses:

ITR-5 For firms, an association of persons (AOP), Body of Individuals (BOI), co-operative societies and local authorities.
ITR-6 For companies other than compaA freelancer can file ITR-4 or ITR-3 depending on turnover and profit from business/ profession. nies claiming an exemption under section 11 (such as a charitable or religious trust).
ITR-7 For trusts, political parties, scientific research organisations, colleges and universities.
What are the documents required to file ITR?
Taxpayer needs to have certain essential documents like Form 16, Form 26AS for ITR Filing.
Read More
What are the documents required to file ITR?
Taxpayer needs to have certain essential documents like Form 16, Form 26AS for ITR Filing.
Read More

Know Which ITR Form you are Required to File

Sources of Income Individual Individual/ HUF
ITR-1 (SAHAJ) ITR-2 ITR-3 ITR-4 (SUGAM)
Salary/Pension income

Income From One House Property
Income From Multiple House Property     
Agricultural income exceeding Rs. 5,000/-    
Income from Other Sources
Winnings from lottery and racehorses    
Capital Gains    
Profit from a Partnership Firm      
Proprietary Business/ Profession income      
Income from Presumptive Business/ Profession      
Income From Foreign Assets     
Tax Relief under sections 90, 90A or 91    

FAQs

Which ITR should I file if I have earned salary income during the year?

You need to file ITR-1 if you have only earned salary income during the year. However, if the salary earned during the year is more than Rs. 50 lacs then you need to file ITR-2.

I have earned rental income from 2 properties and interest income during the year, which ITR form is applicable to me?

ITR-2 form is applicable if the taxpayer has rental income from 2 properties and interest income.

I have earned an agriculture income of Rs. 3,50,000 during the year, which ITR needs to be filed?

Even though agriculture income is an exempt income. You need to file ITR-2. Since ITR-1 cannot be filed if agriculture income exceeds Rs. 5,000.

I am freelancer which ITR should I file?

A freelancer can file ITR-4 or ITR-3 depending on turnover and profit from business/ profession.

I am Stock Market Trader, which ITR should I file?

Stock Market trader can file ITR-3 or ITR-4 depending on type of trading, turnover and profit from trading activities.

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