Income Tax Return Form: Which ITR Form to File?

Download Income Tax Return Form

Know which Income Tax Return Form you should file. The deadline for filing income tax return for the year 2015-16 is 31st July. Hence, we have shared here a complete guide on which ITR form you should be filing. It is better to prepare well in advance to avoid last minute hassles in filing a return. CBDT has also given an opportunity to the tax payers till 31st August 2016. Tax payers can clear up pending ITRs for 6 assessment years from 2009-10 to 2014-15. The e-validation of ITRs using Aadhar number and bank account numbers is introduced to make ITR filing paperless and quick. This applies to any pending case of ITR due to non-receipt of ITR-V acknowledgment by CPC, Bengaluru. We have given below the list of income tax return form. It will help you to choose your appropriate form for filing return. It should help you during the entire process.

Different forms are prescribed by CBDT for filing income tax return. The new income tax return form will require your Aadhar and passport number. Any HUF will also require mentioning its formation date in the new ITR form. The new ITR forms ITR-1, ITR-2 and ITR-4S were notified for the assessment year 2015-16. After representations from many stakeholders, CBDT has now notified simpler versions. The notified forms are ITR Forms 3, 4 5, 6 and Income tax return form 7. Find the listing and purpose of each ITR form. It will give an overview of the income tax return forms applicable to you.


Income Tax Return Form

How to Download ITR Form?

Check out which Income Tax Return is applicable to you and download it. Find below the link to download any ITR form from the official site of income tax, India.

https://incometaxindiaefiling.gov.in/e-Filing/Services/DownloadItrLink.html

Make sure that you select the assessment year before downloading the form.

Types of ITR Forms

Form ITR-1 (SAHAJ)

ITR-1 income tax return form is to be used by a person whose total income for the year 2015-16 include:

  • Income from salary or income from pension
  • Income from one house property
  • Income from other sources (should not include lottery win amount and race horses)

Any resident having an asset out of India cannot use this form. (The asset also includes any financial interest in any legal entity). Any person who is a signing authority in any account located out of India cannot use this income tax return form. If you have foreign assets, this form is not applicable to you. If you have exempted income more than Rs. 5000, you cannot use ITR-1 form.

ITR-2A

You can use ITR-2A form for filing return if:

  • If you have salary income and own more than one house property. You do not have any capital gains.
  • If you have any long-term capital gains from transactions for which securities transaction tax is paid.
  • Those who are earning from capital gains, business or profession cannot use this form for filing ITR.
  • Residents having a foreign asset or foreign income cannot use this form to file ITR. Those having any claim of relief or deduction under section 90, 90 A or 91 cannot use this form. Residents having an asset and is signing authority out of India cannot use this form.

ITR-2

ITR-2 can be used to file income tax return by an HUF or an individual whose total income for the year 2015-16 is from:

  • Salary / Pension or
  • House property or
  • Capital gains or
  • Other sources (lotteries and horse racing)

ITR-2 cannot be used if your total income for 2015-16 includes business or profession. Or if you receive income as a partner in LLP or partnership.

ITR-3

ITR-3 income tax form can be used by an HIF or an individual who is a partner in LLP or nin a partnership firm and not carrying business under any proprietorship.

ITR-3 should not be used by a person whose total income for 2015-16 includes income from profession or business under any proprietorship.

ITR-4S or SUGAM

Hindu Undivided Family and small business taxpayers having following income can use SUGAM or

ITR-4S:

  • Income tax Return to be filed by individuals, HUF and small business taxpayers having:
  • Presumptive business income
  • Salary or pension
  • One house property
  • From other sources

Tax payers cannot use ITR-4S form under following conditions:

If they have:

  • More than one house property
  • More Rs. 5000 income from agriculture
  • Income from lotteries and racing
  • Capital gains
  • Losses which are to be carried forward
  • Speculative income

ITR-4

Individuals and HUFs who are earning from a proprietary occupation or business.

ITR-5

This income tax return form is for firms, LLPs, Body of Individuals (BOIs) and AOPs (Association of persons).

ITR-6

Companies not claiming exemption under section 11 can use this ITR. Section 11 exempts income from property held for religious and charitable purposes. ITR-6 is to be filed electronically only.

ITR-7

ITR-7 income tax return form is for person and company who are abides furnish return under Section 139(4A) or 139(4B) or 139 (4C) or 139 (4D). Find below the applicability of all 139 sections:

  • Section 139(4A) – Under this section, a return is filed against receipt of income from property held under trust or any other legal obligation which is for a charitable or religious purpose.
  • Section 139 (4B) – To be filed by any political party if they total income exceeds the maximum amount not chargeable to income tax. (the income should be in effect to the provisions under section 139(4a)
  • Under section 139(4c), return is to be filed by following various entities:
  • News agency
  • Scientific research association
  • Institution under section 10(23B)
  • Institution or association under section 10(23A)
  • Institution or university or fund or any other education or medical institution or hospital
  • Under Section 139 (4D), a return is to be filed by college or university or any education institution which is not supposed to provide a return of income or loss under any other provision of section 139.

ITR-7 is to be filed in paper only.

Income Tax Return Form Download

The newer simplified ITR forms save up lots of time and efforts on the part of tax payers. If you have any doubt regarding income tax return form do leave your queries. The above details on each ITR form will help you to know which form is applicable to you. Income tax return can be filed offline as well online. If you file for return, you can verify your return online using EVC. EVC is an electronic verification code comprising 10 digits. It is issued against every pan card and valid for 72 hours. We will discuss EVC separately in details. Do share our information on income tax return form with your friends and colleagues. Do not forget to check your income tax refund once you have filed the ITR.

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