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Which ITR form to be filed by Individuals to file their taxes?

Ajay Kumar Maggidi 
on 14 July 2020

LinkedIn


Income Tax Return (ITR) is a declaration of incomes and taxes thereon by tax payers. It is required to be filed in each assessment year for the incomes in earned in previous year. You had earned incomes and paid taxes (TDS/Advance tax) in previous year. Now, it is the turn to pick the correct ITR form and file your return.  Many Individuals grapple to pick the correct ITR form. Often confuse between ITR forms and commits mistakes. There are different ITR forms for Individuals to file their return. Such as ITR1, ITR2, ITR3 & ITR4. Depending upon the status of person, nature of the income and total income ITR form needs to be chosen.

Which ITR form to be filed by Individuals to file their taxes

An attempt has been made to help you to pick the correct ITR form to file your return. Below table will help you to find your applicable ITR form.

Status of the Person

Nature of Income

ITR Form

Persons Restricted

Resident Individual/HUF

Salary/Pension, One House Property, Other Sources (Interest etc), Agriculture Income up to 5K. & total income up to 50L.

ITR 1

Director of the company, person holding equity shares in unlisted company)

Individual/HUF

Salary/Pension, more than one house property, capital gains, Other Sources

ITR 2

NA

Individual/HUF

Salary/Pension, House Property, Capital Gains Business/Profession, Other Sources

ITR 3

NA

Individual/HUF/Firms(Not LLP)

Salary/Pension, One house property, other sources, income from the business/profession u/s 44AD, 44AE, 44ADA. Agriculture Income up to 5K.& total income up to 50L

ITR 4

Director of the company, person holding equity shares in unlisted company)

 

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Category Income Tax
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