Income Tax Return (ITR) is a form in which the taxpayers file information about their income earned and tax applicable, to the income tax department. The department has notified 7 various forms i.e. ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-7 to date.
01
ITR Form 1
ITR form 1 is an income tax return form used by salaried individuals to file their income tax returns if their total income does not exceed Rs. 50 lakh in a financial year.
02
ITR Form 2
ITR form 2 can be filed by individuals and Hindu Undivided Families (HUFs) whose income exceeds Rs. 50 lakh in a financial year, and who have income from sources other than salary.
03
ITR Form 3
ITR form 3 is used to file income tax returns by individuals and HUFs who have income from a proprietary business or profession.
04
ITR Form 4
ITR form 4 is used to file income tax returns by individuals and HUFs who have income from a presumptive business or profession.
05
ITR Form 5
ITR form 5 is used by firms, LLPs, Association of Persons (AOPs), and Body of Individuals (BOIs) to file their income tax returns.
06
ITR Form 6
ITR form 6 is used by companies to file their income tax returns.
07
ITR Form 7
ITR form 7 is used by trusts, political parties, research associations, news agencies, and other entities that are exempt from income tax to file their income tax returns.
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