Different type of ITR forms

In India, the Income Tax Department has several types of Income Tax Return (ITR) forms, each catering to different types of taxpayers and sources of income. Here’s an overview of the main ITR forms as of my last update:

1. ITR-1 (Sahaj): This form is for individuals who have income from salaries, one house property, other sources (excluding winnings from lottery and racehorses), and total income up to ₹50 lakhs.
2. ITR-2: Individuals and Hindu Undivided Families (HUFs) who do not have income from profits and gains of business or profession can use this form. It includes income from salaries, more than one house property, capital gains, and income from other sources.
3. ITR-3: This form is for individuals and HUFs having income from profits and gains of business or profession. It is also applicable to individuals and HUFs who are partners in a partnership firm but do not have income from proprietary business or profession.
4. ITR-4 (Sugam): It is meant for individuals, HUFs, and firms (other than LLPs) having presumptive income from business and profession. This includes income from a profession where the total turnover or gross receipts do not exceed ₹2 crores.
5. ITR-5: This form is for firms, LLPs (Limited Liability Partnerships), AOPs (Association of Persons), BOIs (Body of Individuals), artificial juridical persons, and cooperative societies.
6. ITR-6: It is for companies other than companies claiming exemption under section 11 (income from property held for charitable or religious purposes).
7. ITR-7: This form is for persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F).

These are the primary ITR forms used for filing income tax returns in India. Taxpayers should choose the appropriate form based on their sources of income and other relevant factors.