Form Applies
ITR 1 - 1) For Individuals having Income from Salary / Pension / Plus
Plus
2) Income from One House Property (excluding loss brought forward from previous years) /
Plus
3) Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses)]
No income from B or P / IFCG
ITR 2 - For Individuals and HUFs not having Income from Business or Profession
ITR 2 applies to those who have IFCG plus IFS plus IFOS plus IFHP
ITR 3-
or profession under any proprietorship
1) IFS plus 2) IFHP 3) IFBP 4)IFCG 5) IFOS
ITR 4 - For indls and HUFs having income from a proprietary business or profession
1) IFS plus 2) IFHP 3) IFBP 4)IFCG 5) IFOS
ITR 4S- For PRESUMPTIVE BUSINESS INCOME TAX RETURN
1) IFS plus 2) IFHP 3) IFBP 4) IFOS (No CG)
ITR 5- For firms, AOPs and BOIs
ITR 6- For Companies other than companies claiming exemption under section 11
· Which Form applicable when? Highlighted ones indicate what should a student or CA always remember.(It’s the tips to memorise them easily)
· I have following questions –
· For which companies ITR 6 DOES NOT APPLY?
· Which form do they have to file in?
· Is it that a CA working as a partner in big4 and not having a sole proprietor firm registered with his name needs to file ITR 3? If a CA , has a firm of his own and also works as partner in some other CA firm which form will he file? A CA having his own firm will file ITR4 right?
· Don’t the people who opt for presumptive income have IFCG ? then how will they report it ?
· A normal man having main income as IFS, WHO INVESTS IN PROPERTIES AND HAS IFHP needs to always file ITR2?
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