CA Anoop Kumar Sharma
Quick Summary
The financial year 202324 has ended. Now that taxpayers want to file their ITR, the income tax portal gives them access to file their ITR, but before filing, they must see AIS as shown on the Income Tax website. Before we file the ITR,, ensure we gather the following documents: Form 16, bank stateme
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FAQ :
The due date for filing ITR for FY 2023-24 and AY 2024-25 is July 31, 2024.
ITR-1 (Sahaj) is generally for resident individuals with total income from salary, pension, one house property, and other sources (excluding lottery/horse racing winnings), provided the total income does not exceed INR 50 lakh and other specific conditions are met.
ITR-2 is for individuals or HUFs who are not eligible for ITR-1 and do not have income from business or profession (PGBP).
ITR-3 is for individuals or HUFs who have income from business or profession, or who are partners in a firm, and are not eligible for ITR-1, ITR-2, or ITR-4.
ITR-5 is designed for entities such as firms, LLPs, AOPs, BOIs, and artificial judicial persons.
ITR-7 is for persons, including companies, who are required to furnish returns under specific sections related to trusts, political parties, scientific research associations, and other institutions.
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