Confused: which ITR form is for you?

1. ITR-1 :

   • Residents with a total income of up to ₹50 lakh.
   • Income from salary/pension, one house property, and other sources (interest, family pension, etc.).
   • Agricultural income up to ₹5,000

2. ITR-2:

   • Residents with a total income of > ₹50 lakh.
   • Individuals and Hindu Undivided Families (HUFs) not having income from business or profession.
   • Income from salary/pension, multiple house properties, capital gains, and other sources.
   • Income from foreign assets or agricultural income exceeding ₹5,000.

3. ITR-3:

   • Individuals and HUFs having income from business or profession.
   • Income from salary/pension, house property, capital gains, and other sources.

4. ITR-4 :

   • Residents, HUFs, and Firms (other than LLP) with total income up to ₹50 lakh.
   • Income from business and profession  computed under sections 44AD, 44ADA, or 44AE (Presumptive Income Scheme).
   • Freelancer income
   • Income from salary/pension, one house property, and other sources (interest, family pension, etc.).
   • Agricultural income up to ₹5,000.

5. ITR-5:

   • Partnership firms, LLPs, AOPs, BOIs, Artificial Juridical Persons (AJP), estates of deceased persons, estates of insolvent persons, business trusts, and investment funds.

6. ITR-6:

   • Companies, except those claiming exemption under section 11

7. ITR-7:

   • Persons including companies required to furnish returns under sections 139(4A), 139(4B), 139(4C), or 139(4D). This includes entities such as charitable/religious trusts, political parties, scientific research institutions, news agencies, associations, colleges, or universities.
     
     

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Note :Before selecting an ITR form, it is advisable to review the detailed instructions provided by the Income Tax Department for the respective assessment year, as rules and criteria can change annually.