ITR File

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Income Tax Return File

We have made the Income Tax eFiling, simple and easy. File your income tax return online with the dedicated Tax Experts support from NxtGain.

ITR – 1 Form Filling

ITR-1 SAHAJ form is the most widely used form by Individuals to file their Tax Returns with the Income Tax Department of India. Individuals who have their income within ₹ 50 Lakhs and have earned their Income for the Financial Year through Salary or Pension, only one House Property and other sources excluding lottery, racehorses, legal gambling etc are eligible to file their IT Return using ITR-1.

Assessees who have income from foreign assets, agricultural income that exceeds Rs. 5000, Income from Business or Profession and Income from more than one house property are not eligible to file using ITR-1 Form.

Who can use ITR-1 Form ?
ITR-1 must be filed by individuals whose source of income is limited to Salary/Pension, One House Property and other sources (Excluding winning from lottery and race horses).

Who should not file ITR-1 Form ?
ITR-1 form should not be filed for below cases :

1. Income that exceeds Rs. 50 Lakhs
2. Assessee has Taxable Capital Gains
3. Assessee has any of the below sources of income :
a) Income from foreign assets
b) Agricultural income that exceeds Rs. 5000
c) Income from Business or Profession
d) Income from more than one house property

When should ITR-1 be filed ?
ITR-1 form is to be used when the assessee has income that is within Rs. 50 Lakhs and when the source of income falls into any of the below categories :

1. Income from Salary/ Pension
2. Income from just one house property
3. Income from other sources excluding Winning from Lottery, Race Horses, income from foreign assets, Capital Gains, Business or Profession, Agricultural income that exceeds Rs. 5000.

What is the due date for filing ITR-2 Form ?
ITR-1 form must be filed by individuals and HUFs on or before 31st July of every year.

ITR – 2 Form Filling

The ITR-2 Form is an important Income Tax Return form used by Indian citizens, as well as Non Residents to file their Tax Returns with the Income Tax Department of India. Individuals who are not eligible to use ITR-1 can use the ITR-2 Form.

Individuals and Hindu Undivided Families who have their Income for the Financial Year through Salary or Pension, more than House Property, Income from Capital Gains, Income from foreign assets/Income, Income from business or profession as a partner (not proprietor) and other sources including lottery, racehorses, legal gambling are eligible to file their IT Return using ITR-2. Individuals who are not eligible to file using ITR-1, because of their income exceeding ₹ 50 Lakhs, also need to file using ITR-2.

Who can use ITR-2 form?

ITR-2 must be filed by individuals and HUFs who are not eligible to file ITR-1 Sahaj form, because of following reasons:

  • Income exceeding Rs. 50 Lakhs
  • Having foreign assets / income
  • Having agricultural income which is more than Rs. 5,000,
  • Having taxable capital gains
  • Having income from business or profession as a partner
  • Having more than one house property

Who should not file ITR-2 form?

ITR-2 form should not be filed by any individual who has income under the head of Business or Profession from a proprietorship. ITR-2 form can also not be filed by a company or LLP or other types of legal entity.

When should ITR-2 be filed?

ITR-2 form is to be used when the assessee has income that falls into the below category:

  • Accrued income through the sale of assets or property (Capital Gains)
  • Income from more than one housing property
  • Income from countries outside of India
  • Income as a partner in any firm (not proprietorship)
  • Income from agriculture above Rs 5,000
  • Income from any windfall such as lotteries or horse racing
  • Income from Salary/Pension, Housing Property, Other sources that exceeds Rs. 50 Lakhs

What is the due date for filing ITR-2 form?

ITR-2 form must be filed by individuals and HUFs on or before 31st July of every year

ITR – 3 Form Filling

The ITR-3 Form applies particularly to those Individuals and Hindu Undivided Families who have income from carrying on a profession or from Proprietary business. If an Individual/HUF is having income as a partner of a partnership firm that is carrying out business/profession, he cannot file ITR-3. In such case, he is required to file ITR 2.

Who can use ITR-3 form ?

ITR-3 must be filed by individuals and HUFs who have income from carrying on a profession or from Proprietary business.

Who should not file ITR-3 Form ?

If an Individual/HUF is having income as a partner of a partnership firm that is carrying out business/profession, he cannot file ITR-3. In such case, he is required to file ITR 2.

When should ITR-3 be filed ?

ITR-3 form is to be used when the assessee has income that falls into the below category :

  • Income from carrying on a profession
  • Income from Proprietary Business
  • Along with income from a profession or proprietary business, return may also include income from House property, Salary/Pension and Income from other sources

What is the due date for filing ITR-3 Form ?

Due date for filing income tax return is 31st July for Individuals and 30th September for Businesses.

ITR – 4 Form Filling

The ITR-4 Form can be used by Individuals, Hindu Undivided Families who are running a business with turnover of less than ₹ 2 Crores and Professionals with gross receipts exceeding ₹ 50 Lakhs, provided they have opted for the presumptive income scheme as per Section 44AD ,Sec 44ADA and Section 44AE of the Income Tax Act.

Who can use ITR-4 Form ?

ITR-4 must be filed by individuals / HUFs and Professionals who have opted for the presumptive income scheme as per Section 44AD ,Sec 44ADA and Section 44AE of the Income Tax Act.

Who should not file ITR-4 Form ?

ITR-4 cannot be filed by taxpayers who fall into the below category :

  • Businesses with turnover of over Rs. 2 Crores
  • Professionals with gross receipts exceeding Rs. 50 Lakhs

In the above cases ITR-3 should be filed.

Companies cannot file ITR-4 as it is applicable only for individuals / HUFs and Professionals. Companies need to file ITR-6 or ITR-7 based on applicability.

When should ITR-4 be filed ?

ITR-4 form is to be used when the assessee has income that falls into the below category :

  1. Income from carrying on a profession and has opted for presumptive income scheme as per section 44 ADA
  2. Income from Proprietary Business and has opted for presumptive income scheme as per section 44 AD or section 44AE
  3. Along with income from a profession or proprietary business, return may also include income from House property, Salary/Pension and Income from other sources

What is the due date for filing ITR-4 Form ?

Due date for filing income tax return is 31st July for Individuals and 30th September for Businesses.

ITR – 5 Form Filling

ITR-5 Form can be used by Firms, Limited Liability Partnerships(LLPs), Association of persons(AOPs) and Body of Individuals(BOIs), Artificial Juridical Person, Cooperative society and Local authority, provided they are not required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) (i.e., Trusts, Political party, Institutions, Colleges, etc.).

Individuals, HUFs (Hindu Undivided Families), Companies cannot use the ITR-5 Form.

Who can use ITR-5 Form ?

ITR-5 must be filed by firms, LLPs (Limited Liability Partnerships), AOPs (Association of persons) and BOIs (Body of Individuals), artificial juridical person, cooperative society and local authority.

Who should not file ITR-5 Form ?

ITR-5 cannot be filed by Taxpayers who fall under the below category :

  • Assessees who are required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) (i.e., Trusts, Political party, Institutions, Colleges, etc.)
  • Individuals, HUFs (Hindu Undivided Families), Companies

When should ITR-5 be filed ?

ITR-5 form is to be used when the assessee is one of the following :

  • Firms
  • LLPs (Limited Liability Partnerships)
  • AOPs (Association of persons)
  • BOIs (Body of Individuals)
  • Artificial juridical person
  • Cooperative society
  • Local authority

What is the due date for filing ITR-5 Form ?

Due date for filing the income tax return is 31st August.

ITR – 6 Form Filling

ITR-6 Form can be used only by Companies. Only companies that are not claiming exemption under section 11 (Income from property held for charitable or religious purposes) can use the form to file their Tax Returns with the Income Tax Department of India.

Who can use ITR-6 Form ?

ITR-6 must be filed by companies that are not claiming exemption under section 11 (Income from property held for charitable or religious purposes)

Who should not file ITR-6 Form ?

ITR-6 cannot be filed by Taxpayers who fall under the below category :

  1. Individuals, Hindu Undivided Family (HUF), Firm, Association of Person (AOP), Body of Individuals (BOI), Local Authority and Artificial Judiciary Person
  2. Companies that claim exemption under section 11 (Income from property held for charitable or religious purposes)

When should ITR-6 be filed ?

ITR-6 form is to be used when the tax payer is registered as a Company under Indian Companies Act of 1956 or any other law, and if the company is not claiming exemption under section 11 (Income from property held for charitable or religious purposes).

What is the due date for filing ITR-6 Form ?

Due date for filing the income tax return is 30th September.

ITR – 7 Form Filling

ITR-7 Form can be used by Companies, Firms, Local authority, Association of Person (AOP) and Artificial Judiciary Person that are claiming exemption as one the following :

  • Charitable /Religious trust under Section 139 (4A)
  • Political party under Section 139 (4B)
  • Scientific research institutions under Section 139 (4C)
  • University or Colleges or Institutions or Khadi and Village industries under Section 139 (4D)

Who can file ITR 7 form?

ITR-7 must be filed by Companies, Firms, Local authority, Association of Person (AOP) and Artificial Judiciary Person that are claiming exemption in any of the following category :

  • Having income from charitable /religious trust- Section 139 (4A)
  • Having income from a political party – Section 139 (4B)
  • Having income from scientific research institutions – Section 139 (4C)
  • Having income from university or colleges or institutions or khadi and village industries – Section 139 (4D)

Who should not file ITR-7 Form ?

ITR7 cannot be used by a tax assessee who is not claiming exemption under Section 139 (4A), Section 139 (4B), Section 139 (4C)or Section 139 (4D).

When should ITR-7 be filed ?

ITR-7 form is to be used when the tax assessee is a Trust, filing as a Company, Firm, Local authority, Association of Person (AOP) or Artificial Judiciary Person and is claiming exemption under Section 139 (4A), Section 139 (4B), Section 139 (4C)or Section 139 (4D).

What is the due date for filing ITR-7 Form ?

Due Date for all Tax Assessees, whose accounts are required to be audited, is 30th September. Due Date for Tax Assessees, whose accounts are not required to be audited, is 31st July.
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