CA Shubhi Khandelwal
Quick Summary
Depending on the type of income, the category the taxpayer falls under (Individual, HUF, Company etc.), and the income that the taxpayer makes, there are different types of Income Tax Returns (ITR) Forms which needs to be filed. In case taxpayers choose the wrong form, they will have to go through t
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FAQ :
If you choose the wrong ITR form, you will have to go through the process of filing your Income Tax Return again.
ITR 1 (SAHAJ) is for Resident Indian Individuals and HUFs with income from salary, one house property, other sources (like interest) up to Rs. 5000, and agricultural income up to Rs. 5000. Their total income should not exceed Rs. 50 lakhs.
Individuals and HUFs with income from more than one house property, along with salary and other sources, should file ITR 2.
ITR 4 (SUGAM) is for Individuals, HUFs, and firms (excluding LLPs) who have income from salary, one house property, other sources, business or profession computed under Section 44AD, 44ADA, and 44AE, and capital gains. Agricultural income can be up to Rs. 5000, and total income should not exceed Rs. 50 lakhs.
Companies, other than those claiming exemption under Section 11, should file ITR 6.
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