Itr

Can Anybody explain for what purpose which itr is used?

Replies (4)

ITR-1 : Used  by an individual whose total income for the assessment year includes:-

(a) Income from Salary/ Pension; or

(b) Income from One House Property (excluding cases where loss is brought forward from previous years); or

(c) Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses).

Note: Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only if the income being clubbed falls into the above income categories.

ITR-2 : By an individual or a Hindu Undivided Family whose total income for the assessment year includes:-

(a) Income from Salary / Pension; or

(b) Income from House Property; or

(c) Income from Capital Gains; or

(c) Income from Other Sources (including Winning from Lottery and Income from Race Horses)...

 Note 1 Also apply here.

ITR-3 : By an individual or an Hindu Undivided Family who is a partner in a firm and where income chargeable to income-tax under the head “Profits or gains of business or profession”

ITR-4 : Applicable, both, to Individuals and HUFs who carry out any business or professional activity in addition to having sources of income applicable to ITR-3.

ITR-5  : This Form can be used a person being a firm, AOP, BOI, artificial juridical person referred to in section 2(31) (vii), cooperative society and local authority.

ITR-6 : This Form can be used by a company, other than a company claiming exemption under section 11.

ITR-7 : This Form can be used by persons including companies who are required to furnish return under section 139(4A) or under section 139(4B) or under section 139(4C) or under section 139(4D).

  

I also agreed to above ans.

but  i explain itr 4s - ITR 4S  use in who carring a business but don't maintain books of account.

under it act section 44AD says  any business who does not maintain our books of accounts then th's business is profit assume Min.8% Profit of total trunover and file the ITR 4S. 

It is applicable for small businessmen and professionals covered under presumptive taxation.

yes sir i agreed your above Ans.

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