Income Tax Return is prepared by combining all type of incomes which an Assessee had earned in previous year. So in order to differentiate the manner of dealing with several type of Incomes, there are various Return Forms available so as to easily categorize in which category our return will lie.
So here is the complete list of various types of ITR Forms along with their applicability, type of sources of income and non-applicability.
|NAME OF RETURN FORMS||APPLICABLE ASSESSEES||NATURE OF INCOME||NON-APPLICABILITY OF FORM|
|ITR 1||Individual||1) Income from Salary/Pension|
2) Income from House Property(not more than one)(excluding cases where there is brought forward losses or loss to be carried forward from previous year)
3) Income from Other Sources(excluding winning from Lottery & income from Race Horses)
|1) Total Income exceeds Rs.50 Lakh.
2) Includes Income from more than one house property or where there is brought forward loss from previous years.
3) Income from winning from Lottery or Race horses.
4) Income taxable u/s 115BBDA.
5) Unexplained nature of income.
6) Income under head Capital Gain.
7) Agricultural Income in excess of Rs. 5000.
8) Income from Business/Profession.
9) Loss under head Other Sources.
10) Person claiming relief u/s 90 &/or 91.
11) Any Resident having asset located outside India/signing authority of any a/c located outside India.
12) Any Resident having income from any source located outside India.
|ITR 2||Individual & HUF||1) Salary/Pension|
2) Income from House Property(More than one properties)
3) Income from Other Sources.
4) Income under head 'Profit or Gain from Business or Profession' in the nature of Interest, salary, bonus, commission or remuneration received from Partnership Firm.
|Where income is received from Business/Profession under any Proprietorship.|
|ITR 3||Individual & HUF||1) Income received from carrying out a proprietary business/profession.|
3) House Property Income
4) Income from Other Source.
|where assesse has claimed presumptive scheme for calculating profit where he had not maintained accounts.|
|ITR 4||Individual, HUF & Partnership firm||1) Business Income computed in Section 44AD & 44AE.|
2) Income from Profession computed in section 44ADA.
4) Income from one House Property.
5) Income from Other Source.
|1) Income from more than one house property
2) Income from winning Lottery/Race horses.
3) Income under head Capital Gain
4) Income u/s 115BBDA
5) Income of nature u/s 115BBE
6) Agricultural Income in excess of Rs. 5000
7) Income from Speculative Business & other special incomes
8) Income from Agency Business or income in nature of Commission or Brokerage
9) Person claiming relief from tax u/s 90, 90A or 91.
10) Any Resident having Asset located outside India.
11) Any resident having Income outside India.
|ITR 5||Firm, LLPs, AOP, BOI, Artificial Jurisdicial Person, person referred in 160(1)(iii) or (iv), Cooperative Society, Registered Societies and Local Authority.||Person who is required to file the return of income u/s 139(4A), 139(4B), 139(4C), 139(4D) or 139(4F).|
|ITR 6||Companies||For Companies claiming Exemption under section 11.|
|ITR 7||Person including companies who are required to furnish return u/s 139(4A), 139(4B), 139(4C), 139(4D), 139(4E) or 139(4F).|