Answer: Aman March 1, 2021 Answer:
Income Tax Return or ITR is a form in which the taxpayers file information in relation to income, expenses, and other pertinent tax information to the income tax department. CBDT has notified 7 various forms i.e. ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7 till date.
The information contained in ITR forms should be for a particular financial year (FY), i.e., from the 1st of April of the current year to 31st of March of the next year.
| Form | Description |
| ITR 1 | For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares) |
| ITR 2 | For Individuals and HUFs not having income from profits and gains of business or profession |
| ITR 3 | For individuals and HUFs having income from profits and gains of business or profession |
| ITR 4 | For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE (Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares) |
| ITR 5 | For persons other than:- (i) Individual, (ii) HUF, (iii) Company and (iv) Person filing Form ITR-7 |
| ITR 6 | For Companies other than companies claiming exemption under section 11 |
| ITR 7 | For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) |
For more detailed information on each ITR click on ITR under Form column.
