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What Are The Types Of Income Tax Return Forms?

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The taxpayers who file the income tax returns must determine the type of income tax return form (ITR form) to file before they actually file the returns. The form needed is completely based on the income earned by the taxpayer, or in some cases, where they hold assets any country apart from India or is earning an income from a country but not India.

Types of Income Tax Return Forms:

Whilst there are around nine kinds of income tax return forms that being a taxpayer you could use to file your returns, only the below-mentioned forms must be considered by you while you file your ITR according to the Central Board of Direct Taxes.

  • ITR 1
  • ITR 2
  • ITR 2A
  • ITR 3
  • ITR 4
  • ITR 4S

The Income Tax Return Forms only apply to firms and companies are mentioned below:

  • ITR 5
  • ITR 6
  • ITR 7

ITR-1:

ITR 1 form is also known as a Sahaj form. You can file the ITR 1 form if you are a sole individual taxpayer. Any other assets subjected to make payment of taxes will not qualify to avail of the form to file their income tax returns. This ITR form is applied to the following:

  • Salaried individuals or the individuals earning income via other means such as a pension.
  • Individuals earning no income by selling any asset like capital gains or no income from other businesses.
  • Individuals not owning any property or assets in countries except India
  • People not earning income from any foreign country
  • People earning income less than Rs. 5000 from agriculture

ITR-2A:

The income tax returns 2A form (ITR 2A form) was brought in for the assessment 2015-16 & is a new ITR form, which an individual taxpayer or a Hindu Undivided Family (HUF) can make use of it. This form is applicable for:

  • People earning income via salary or any other means like pension
  • Individuals earning an income from more than single housing property.
  • People earning no income from different business, or the ones having no income from selling the assets, that is capital gains
  • People earning income from several investments like shares, investments, fixed deposits etc.
  • Individuals earning income from agriculture is lesser than Rs. 5000

ITR-2:

The Income Tax Returns 2 form is usually used by people who have accumulated income via the sale of property or assets along with people who earn an income from the countries outside India. ITR 2 forms can be availed by the Hindu Undivided Family (HUF) of individuals to file their returns. The ITR 2 forms are applicable for:

  • People earning income via salary or via other means like pension
  • Individuals earning income via the sale of property or assets in India, that is capital gains
  • People earning income from any of the business ventures.
  • Individuals owning assets in the countries outside India

ITR-3:

A taxpayer, whether a Hindu Undivided Family (HUF) or an individual can make use of the ITR-3 form. The taxpayer must only function as an ally in a company but who do not carry out any business under the company or who do not make any income from the business they conduct in the firm. The taxpayers with a taxable income made from business can file the ITR-3. The income earned must be from the following sources:

  • Remuneration
  • Interest
  • Bonus
  • Commission
  • Salary

ITR-4:

The taxpayers who administer any business or who is earning income via any profession can avail the ITR-4 form. This form is relevant to any type of profession, business, or undertaking, without any limit on the earned income. Together with the money earned from any business, taxpayers can also join any income received from housing property, salaries, speculation, windfalls etc. with the income earned from their business. Any person is it the contractor, retailer, agent, designer, doctor or shopkeeper qualifies for filing the income tax return by making using this form.

ITR-4S:

This form is also called the Sugam form and any Hindu Undivided Family (HUF) or any individual can make use of the ITR-4S to file the income tax returns.


This article was written by Anumeha Singh for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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