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*Who & Which ITR Form should file*

*What are the Different Types of ITR Forms?*

*There are nine types of forms which a taxpayer could use to file his Income tax return*

*ITR-1*
*ITR-2*
*ITR-2A*
*ITR-3*
*ITR-4*
*ITR-4S*

*The following income tax return forms are only applicable to companies and firms*

*ITR-5*
*ITR-6*
*ITR-7*


*WHO SHOULD FILE ITR_1*

This income tax return form is also called a Sahaj form. The ITR-1 form is to be filed solely by an individual taxpayer.
. This form is applicable to- Salaried Person or Pension holder, Income from single house property, for agriculture income less than 5000, Income from investments like FD, Investments, Share, etc.


*WHO SHOULD FILE ITR_2A*


The ITR-2A form was introduced for the assessment year 2015-16 and is a new income tax return form that can be used by a Hindu Undivided Family (HUF) or an individual taxpayer. The ITR-2A form is applicable to Salaried Person or Pension holder, Income from single house property, for agriculture income less than 5000, Income from investments like FD, Investments, Share, etc.


*WHO SHOULD FILE ITR_2*

The ITR-2 Form is generally used by individuals who have accrued income through the sale of assets or property as well as individuals who earn income from countries outside India. Individuals or Hindu Undivided Families (HUF) can avail of this form to file their returns. This form is applicable to Income from Salary or Pension, Capital gains, Income from more than one house property, Holding assets outside India, Agriculture income more than 5000, Income from lotteries or horse racing


*WHO SHOULD FILE ITR_3*

The ITR-3 Form is to be used by a taxpayer who is either an individual or a Hindu Undivided Family (HUF) who solely operate as a partner in a firm but who do not conduct any business under the firm or who do not earn any income from the business conducted by the firm. This form can be filed by those taxpayers whose taxable income earned from business is only in the form of the following received as a partner:
• Salary
• Commission
• Bonus
• Interest
• Remuneration

*WHO SHOULD FILE ITR_4*

The ITR-4 form is to be used by those individuals who conduct a business or who earn income through a profession. This form is applicable to any type of business, undertaking or profession, with no limit on the income earned. Along with the income earned from business, taxpayers can also club any income they receive from windfalls, speculation, salaries, lotteries, housing properties etc with their business income. Any individual ranging from shopkeepers, doctors, designers, agents, retailers, contractors etc is eligible to file their income tax returns using this form.

*WHO SHOULD FILE ITR_4S*

The ITR-4S form is also known as the Sugam form and can be used by any individual or Hindu Undivided Family (HUF) for filing their tax returns. This form is applicable to Income from any business, Income from Single house property, Agriculture income less than 5000
This income tax return form is used in special circumstances and applies to businesses where any income earned is based on a presumptive method of calculation.

*WHO SHOULD FILE ITR_5*

The ITR-5 form is to be used by only by the following entities for filing income tax returns:
• Firms
• Limited Liability Partnerships (LLPs)
• Body of Individuals (BOIs)
• Association of Persons (AOPs)
• Co-operative Societies
• Artificial Judicial Persons
• Local Authorities


*WHO SHOULD FILE ITR_6*

The ITR-6 form is to be used only by companies except those companies or organisations that claim tax exemption as per Section 11. Those organisations that claim tax exemptions as per Section 11 are organisations wherein the income received is accumulated from the property used for the purpose of religion or charity. This particular income tax return form can only be filed online.


*WHO SHOULD FILE ITR_7*

The ITR-7 income tax form is to be filed by individuals or companies that are required to submit their returns under the following sections:
• Section 139(4A) - Under this section, returns can be filed by those individuals who receive income from any property that is held for the purpose of charity or religion in the form of a trust or legal obligation
• Section 139(4B) - Under this section, returns are to be filed by political parties provided their total income earned is above the non-taxable limit
• Section 139(4C) - Under this section, returns are to filed by the following entities:
• Any institution or association mentioned under Section 10(23A)
• Any association involved with scientific research
• Any institution mentioned in Section 10(23B)
• Any news agency
• Any fund, medical institution or educational institution
• Section 139(4D) - Under this section, returns are to be filed by entities such as colleges, universities or any other such institution wherein income returns or loss are not required to be provided in accordance with other provisions outlined in this section.