Mediagul-Income Tax

All Seven Forms Of Income Tax Return Uploaded For E-filing. What Are These Forms. Details Here

Personal Finance

The income tax return 1 is meant for individuals having total income upto Rs. 50 lakh

The I-T department started uploading the tax return forms since April 5. Since then the taxpayers have been looking forward to these ITR forms since the last date to file the income tax returns is July 31.Out of the seven income tax (I-T) forms required by a different set of tax payers, the ITR-1 called ‘Sahaj’ is among the most popular one. ITR-1 is largely used by the salaried class of taxpayers who have an income of up to Rs. 50 lakh from salary, own one house property only and have an additional income such as interest earned from fixed deposits (FDs) and recurring deposits (RDs). While filing the return for assessment year 2018-19, the ITR-1 form, will now seek an assessee’s details in separate fields such as allowances not exempt, profit in lieu of salary and value of prerequisites among others. One can gauge the popularity of this form simply by looking at the statistics that three crore taxpayers filed the return using the form in the last financial year.

Similarly, the ITR-2 form is used by individuals and Hindu Undivided families (HUFs), who have income from any sources except income from profits and gains of business or profession, including NRIs. Individuals and HUFs having income under the head business or profession can file either ITR-3 or ITR-4 in presumptive income cases. The rest of the ITR forms are for different category of taxpayers. Income tax return (ITR) forms have been uploaded on http://incometaxindiaefiling.gov.in:

Following Are The Seven Income Tax Return Forms

ITR 1: The income tax return 1 is meant for individuals who are residents other than not ordinarily resident having income from salaries, one house properly, other surces (interest etc) and having total income upto Rs. 50 lakh

ITR 2: This form is meant for the individuals and HUFs not having income from profits and gains of business or profession.

ITR 3: This form is meant for individuals and HUFs having income from profits and gains of business or profession.

ITR 4: This form is meant for those with presumptive income from business and profession.

ITR 5: This form is meant for the persons other than a) individuals b) HUFs c) company d) person filing form ITR-7

0COMMENTS

ITR 6: This form is meant for the companies other than companies claiming exemption under section 11

ITR 7: This form is meant 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).

4 thoughts on “All Seven Forms Of Income Tax Return Uploaded For E-filing. What Are These Forms. Details Here

  1. ITR 3 – xml and prefilled xml is not opening properly. When contacted the efiling helpline, they said ..
    Dear Taxpayer,
    Greetings from e-Filing Helpdesk.
    e-Filing Request Number 5321279245 is Resolved. ( HOW RESOLVED, WHEN NOTHING HAS BEEN DONE ..??)
    Issue Description:
    ERROR WHILE GENERATING / UPLOADING XML
    Resolution Inputs:
    You are requested to wait for some time to get the resolution for your query
    Note: This is a system-generated e-mail. Please do not respond to this mail.

  2. I have to file ITR 2 for my four family members. I am not able to download xml format return forms but only pdf formats are available for downloading. The utilities provided by the IT website are not opening because the chrome had disabled Java software to work through chrome. Then how can I upload? Shall I have to go to a consultant and is it the desire of the department?

  3. What is the ITR for retired senior citizens who has income from from a house property and also capital gains / loss from Equity shares trading

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