Types of ITR forms (AY 2018-19)

1. SAHAJ (ITR 1):

Return of Income- For individuals having income from Salary/Pension, One House Property, Other Sources (Income shall be less than Rs.50 Lakhs) – Applicable for Residents only from AY 18-19).

2. ITR-2 Form:

Return of Income – For Individuals and HUFs having income Everything from ITR-1 (Income shall be more than Rs.50 Lakhs), Capital Gains, Foreign Income, Agriculture Income more than Rs.5000. (Applicable for RNOR and Non Residents Individuals also from AY 18-19).

3. ITR-3 Form:

Return of Income- For individuals and HUFs having income from a proprietary business or profession – Everything from ITR-2 + Business/Profession Income (Applicable for Partners having Income from Partnership Firm from AY 18-19)

4. ITR-4 Form- SUGAM:

Return of Income for presumptive income from Business & Profession- Presumptive Business Income under Section 44AD(Deemed Profit 8% or 6%), Section 44ADA(Deemed Profit 50%), Section 44AE(Deemed Profit-Rs.7500/vehicle pm) – GSTR No. And Turnover/Gross Receipts details required as per GST Return filed while filing ITR from AY18-19.

5. ITR-5 Form:

Return of Income for Firms, Limited Liability Partnerships, AOP’s, Body of Individuals, Artificial Juridical Persons, Local Authorities.

6. ITR-6 Form:

Return of Income for companies other than companies claiming exemption under section 11.

7. ITR-7 Form:

Return of Income for Persons/Companies under Section 139(4A), Section 139(4B), Section 139(4C), Section 139(4D).

8. ITR-V:

ITR-V means ‘Income Tax Return – Verification’ Form. It is a single page document. You will receive this after e-filing your Income Tax Return.

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