ITR Forms
Full form: Income Tax Return Forms
Tax & DeductionsThe Income Tax Department has different ITR (Income Tax Return) forms for different taxpayer types. Using the wrong form invalidates the return. ITR-1 (Sahaj) is for simple salaried taxpayers. ITR-2, ITR-3, ITR-4 cover progressively more complex income situations.
In detail
Which ITR form to use:nITR-1 (Sahaj): Salaried, one house property, no capital gains, total income up to Rs 50L. Simplest.nITR-2: Salaried + capital gains, or more than one house property, or foreign income/assets. No business income.nITR-3: Individual/HUF with business/professional income. Requires P&L account.nITR-4 (Sugam): Presumptive taxation (Section 44AD/44ADA/44AE).nITR-5: Firms, LLPs, Association of Persons.nITR-6: Companies (not eligible for 80-G exemption).nnDeadline: July 31 for non-auditable returns. September 30 for auditable. Belated return: up to December 31 with Rs 5,000 late fee.
Real-life example
Priya is salaried (Rs 18L), has FD interest (Rs 40K), and sold equity MF (LTCG Rs 1.8L). She CANNOT use ITR-1 (capital gains disqualifies her from Sahaj). She must file ITR-2. Her colleague Arun is salaried only, Rs 12L income, no capital gains -- he can use the simple ITR-1.