Income Tax Return? (ITR) is a prescribed form through which the particulars of income earned by a person in a financial year and taxes paid on such income are communicated to the Income-tax Department. It also allows carry-forward of loss and claim a refund from the income tax department.? Different ITR forms are prescribed for filing of returns for different status and nature of income. These forms can be downloaded from www.incometaxindia.gov.in

Know which ITR form is meant for you:

ITR-1: This form commonly known as SAHAJ is meant for individuals having Income from Salaries, one house property, other sources (Interest etc.) and having total income up to Rs 50 lakh. It can be used by an individual whose total income includes income from salary/pension, income from one house property (excluding cases where loss is brought forward from previous years); or income from other sources (excluding winnings from lottery and income from race horses, income taxable under section 115BBDA or income of the nature referred to in section 115BBE).

In a case where the income of another person like spouse, minor child, etc., is to be clubbed with the income of the taxpayer, this return form can be used only when such income falls in any of the above categories.

ITR – 2: This can be used by an individual and Hindu Undivided Family who is not eligible to file ??ITR-1 Sahaj? and not having income from “profit and gains of business or profession” and also not having income from “Profits and gains of business or profession” in the nature of interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from a partnership firm.

??Further, in case where the income of another person like spouse, minor child, etc., is to be clubbed with the income of the taxpayer, this Return Form can be used if income to be clubbed falls in any of the above categories.

ITR-3: This can be used by an individual or a Hindu Undivided Family (HUF) who is having income from profits and gains of business or profession. However for the A.Y 2018-19, ???ITR – 3 is also required to be filed by a person whose income is chargeable to tax under the head “Profits and gains of business or profession” is in the nature of interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from a partnership firm.

ITR-4: It can be used by an Individual/HUF/Firm (Other than LLP)? whose total income for the year includes:

(a) Business income computed as per the provisions of section 44AD or ?44AE

(b) Income from Profession as computed as per the provisions of ?44ADA

(c) Income from salary/pension

(d) Income from one house property (excluding cases where loss is brought forward from previous years)

(e) Income from other sources (excluding winnings from lottery and income from race horses dividend income in excess of Rs. 10 lakhs or unexplained Income, etc. as referred to in section 115BBE)

Further, in a case where the income of another person like spouse, minor child, etc., is to be clubbed with the income of the taxpayer, this return form can be used where income to be clubbed falls in any of the above categories. ?

ITR-5: This form can be used by a person being a firm, LLP, AOP, BOI, artificial juridical person, cooperative society and local authority.?

ITR-6: It can be used by a company, other than a company claiming an exemption under section 11 (charitable/religious trust can claim an exemption under section 11?).

ITR-7: It can be used by persons including companies who are required to furnish return under section 139(4A) or section 139(4B)? or section 139(4C) or section 139(4D) or section 139(4E)??? or section 139(4f)? (i.e., trusts, political party, institutions, colleges, investment fund, etc.)