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ITR Forms

ITR Form 1- Sahaj: For Salaried Individuals

ITR Form 1 (Sahaj) can be used by the following class of Individuals for the Financial Year 2012-13 i.e. Assessment Year 2013-14 who’s Total Income includes

1. 1. Income from Salary/Pension or
2. 2. Income from 1 House Property (excluding cases where loss is brought forward from previous year)
3. 3. Income from Other Sources (excluding Winning from Lottery and Income from Horse Race)

This Income Tax Form (ITR Form) shall not be used by the following class of Individuals whose Total Income includes

1. 1. Income from more than 1 House Property, or
2. 2. Income from Winning from Lottery or Income from Horse Race, or
3. 3. Income from Capital Gains which are not exempt from Tax. For eg: Short Term Capital Gains from Sale of Shares, Short Term or Long Term Capital Gains from the sale of House, Plot etc.,or
4. 4. Income from Agriculture in excess of Rs 5000, or
5. 5. Any exempted income in excess of Rs. 5000, or
6. 6. Income from Business or Profession, or
7. 7. Loss under head Other Sources

ITR Form 2: For Individuals and HUF not having Income from Business or Profession

This Income Tax Form (ITR Form 2) can be used by Individuals or HUF whose TotalIncome includes:-

1. 1. Income from Salary/Pension, or
2. 2. Income from House Property, or
3. 3. Income from Capital Gains, or
4. 4. Income from Other Sources

This Income Tax Form (ITR Form 2) can be used by all individuals specified above but cannot be used by Individuals earning Income from Business or Profession

ITR Form 3: For Individuals and HUF being partners in Firm but not carrying business under Proprietorship

This Income Tax Form (ITR Form 3) can be used by an Individual or a HUF who is a

1. Partner in a Firm 

However, ITR Form 3 cannot be used by Individuals who are also earning Income from any Proprietorship Firm

ITR Form 3 also contains Schedule AL for the mandatory disclosure of all assets of taxpayers with income more than Rs. 25 Lakhs.

ITR Form 4: For Individuals earning Income from Proprietorship

This Income Tax Form (ITR Form 4) can be used by any Individuals who is earning Income from any Proprietary Business or Profession

ITR 4 also contains Schedule AL for mandatory disclosure of assets of taxpayers with income more than Rs. 25 Lakhs

ITR Form 4S: Sugam – Presumptive Income Tax Form

This Income Tax Form (ITR Form 4S) can be used by an Individual or HUF whose Total Income includes

1. Business Income where such Income is computed in accordance with special provisions referred to in Section 44AD and 44AE for the computation of Business Income, or
2. Income from Salary/Pension, or
3. Income from 1 House Property (excl. cases where the loss is brought forward from previous years)
4. Income from Other Sources (excl. Winning from Lottery and Income from Horse Races)

The Income computed above shall be deemed to have been computed after giving full effect to every loss, allowance, depreciation under the Income Tax Act

ITR Form 5: For Firms, AOP’s, BOI’s

This Income Tax Form can be used by a person being a firm, LLP, AOP, BOI, ArtificialJudicial Person, Co-operative Society or a Local Authority.