Types of ITR Forms- which ITR form should I filed?

Under the Income-tax, there are 5 different types of Income for which a taxpayer files its Income Tax Return (ITR). For different incomes, there are different forms issued by the Income Tax Department through which a return is filed. Here in this post, we are going to discuss different types of ITR forms through which you can select and file his/her ITR.

Important Update- CBDT has notified all the Income Tax Return Forms for the AY 2021-22 with minimum changes in ITR form 1 to ITR form 7. Income tax department has introduced JSON utility and discontinued excel and java version of utilities from the AY 2021-22.

Types of ITR Forms

The Income Tax Act, 1961 governs all the ITR forms and procedures to be followed. There are a total of 7 types of ITR forms i.e. ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, and ITR 7 that are used to file income tax returns. Every taxpayer should file his ITR on or before the specified due dates.

  • ITR 1
  • ITR 2
  • ITR 3
  • ITR 4
  • ITR 5
  • ITR 6
  • ITR 7

Which ITR form should I file ?

The applicability of ITR forms varies and depending on the sources of income of the taxpayers, the amount of the income earned, and the category the taxpayers like individuals, HUF, and companies, etc. Here are the complete details for Types of ITR Forms-

ITR Form 1 or SAHAJ

This form is used by an individual taxpayer to file the return and this form is applicable for the individual to have the following Incomes.

  • Income from salary or pension.
  • Income from only one house property.
  • Do not earn any capital gain.
  • Do not have property abroad and earn only domestic income.
  • Earn agriculture income less than Rs. 5,000
  • Earn income from other sources (except income from a lottery and from horse races.)
  • The total income generated can be below Rs. 50 Lakhs.

Must-Know- Know the Benefits of filing Income Tax Return

ITR Form 2

This form is used by an individual or a Hindu undivided family (HUF) whose total income includes the following incomes.

  • Income from salary or pension.
  • Income from house property.
  • Income from other sources (It also includes winning from lotteries and income from horse races.)

Note- Total income from above 3 should be more than Rs. 50 Lakhs

  • An Individual is a director in a company.
  • Have investments in unlisted equity shares at any time during the year.
  • Being a resident, not an ordinary resident and non-resident.
  • Earn income from capital gain.
  • Have foreign assets and foreign income.
  • Earn agriculture of Rs. 5,000 or more.

ITR Form 3

This form is used by an individual or a Hindu undivided family (HUF) whose total income includes income from business or profession and the person has income from the following sources.

  • Income from business or profession.
  • An Individual is a director in a company or a partner in a firm or both.
  • Have investments in unlisted equity shares at any time during the year.
  • The return may also include Income from house property, salary/pension, or other sources.

ITR Form 4 or Saral

This form is used by an individual/HUF or partnership firm whose income includes the following.

  • Have income from Business u/s 44AD or 44AE.
  • Have income from Profession u/s 44ADA.
  • Have income from salary or pension, Income from house property, or income from other sources (except income from a lottery and from horse races.) up to Rs. 50 Lakhs.

Note- If you have any b/f losses or loss to be c/f under any head of income you can’t use ITR form 4.

ITR Form 5

This form of ITR can be used by a person being a partnership firm including LLP, AOP, BOI, any Artificial Judicial Person, Estate of deceased, Estate of insolvent, Business Trusts, and Investment fund.

ITR Form 6

This form is used by companies except registered u/s 11 of the Income Tax ACT 1961. This type of form is only filed electronically.

ITR Form 7

This type of ITR form is only used by companies, who are required to file their return under the following sections.

  • Section 139 (4A)
  • Section 139 (4B)
  • Section 139 (4C)
  • Section 139 (4D)
  • Section 139 (4E)
  • Section 139 (4F)

After reading the above post, anyone can get an idea about the types of ITR forms and which ITR should someone field!

Table For use and types of ITR Forms- which ITR to file?

ITR FormsIncome/ApplicabilityPerson
ITR 1 or SahajResident individual having income < Rs. 50 Lakh From:
Salary/pension
Other sources
One house property
Resident Individual
ITR 2 Income From:
Every Income From ITR 1> Rs. 50 Lakh
Capital Gain
Agriculture Income of Rs. 5,000 or more
More than one House Property
Foreign Income/assets

An Individual is a director in a company.
Have investments in unlisted equity shares at any time during the year.
Being a resident, not an ordinary resident and non-resident.
Individual or HUF
ITR 3Income From:-
Every Income From ITR-2
Business or Profession.
Director in a company or a partner in a firm or both.
Presumptive Income > Rs. 50 Lakh
Individual or HUF
ITR 4 or SugamEvery Income From ITR 1
Presumptive Taxation Income

Salary/pension
Other sources
One House Property
Total Income< Rs. 50 Lakh

Note- If you have any b/f losses or loss to be c/f under any head of income you can’t use ITR form 4.
Individual, HUF, Partnership Firms other than LLPs
– All should be resident
ITR 5Applicable to-
Partnership firm including LLP,
AOP,
BOI,
Any Artificial Judicial Person,
Estate of deceased,
Estate of insolvent,
Business Trusts, and Investment fund.
Firms, LLPs, AOPs, BOIs, Artificial Judicial Person, Estate of deceased,
Estate of insolvent,
Business Trusts, and Investment fund.
ITR 6Companies not claiming exemption u/s 11 Companies not claiming exemption u/s 11
ITR 7Person/companies under-
Section 139 (4A)
Section 139 (4B)
Section 139 (4C)
Section 139 (4D)
Section 139 (4E)
Section 139 (4F)
Trust

Types of ITR Forms PDF Download

Some FAQs in relation to Types of ITR forms!

  1. What are the different types of ITR forms?

    The Income Tax Act, 1961 governs all the ITR forms and procedures to be followed. There are a total of 7 types of ITR forms i.e. ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, and ITR 7 that are used to file income tax returns. Every taxpayer should file his ITR on or before the specified due dates.
    ITR 1
    ITR 2
    ITR 3
    ITR 4
    ITR 5
    ITR 6
    ITR 7

  2. What are ITR 1 and ITR 2?

    ITR Form 1 or SAHAJ
    This form is used by an individual taxpayer to file the return and this form is applicable for the individual to have the following Incomes.
    Income from salary or pension.
    Income from only one house property.
    Do not earn any capital gain.
    Do not have property abroad and earn only domestic income.
    Earn agriculture income less than Rs. 5,000
    Earn income from other sources (except income from a lottery and from horse races.)
    The total income generated can be below Rs. 50 Lakhs.

    ITR From 2
    This form is used by an individual or a Hindu undivided family (HUF) whose total income includes the following incomes.
    Income from salary or pension.
    Income from house property.
    Income from other sources (It also includes winning from lotteries and income from horse races.)

    Note- Total income from above 3 should be more than Rs. 50 Lakhs
    An Individual is a director in a company.
    Have investments in unlisted equity shares at any time during the year.
    Being a resident, not an ordinary resident and non-resident.
    Earn income from capital gain.
    Have foreign assets and foreign income.
    Earn agriculture of Rs. 5,000 or more.

  3. Who can File ITR 4?

    ITR Form 4 or Saral

    This form is used by an individual/HUF or partnership firm whose income includes the following.
    Have income from Business u/s 44AD or 44AE.
    Have income from Profession u/s 44ADA.
    Have income from salary or pension, Income from house property, or income from other sources (except income from a lottery and from horse races.) up to Rs. 50 Lakhs.

    Note- If you have any b/f losses or loss to be c/f under any head of income you can’t use ITR form 4.

  4. Who can File ITR 3?

    This form is used by an individual or a Hindu undivided family (HUF) whose total income includes income from business or profession and the person has income from the following sources-

    Income from business or profession.
    An Individual is a director in a company or a partner in a firm or both.
    Have investments in unlisted equity shares at any time during the year.
    The return may also include Income from house property, salary/pension, or other sources.

  5. How many types of Income are there?

    Under the Income-tax, there are 5 different types of Income for which a taxpayer files its Income Tax Return (ITR). For different incomes, there are different forms issued by the Income Tax Department through which a return is filed.

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Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)

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