Which ITR to be filed?


Let’s get started to help you out in filing ITR this year. Income Tax Return is very important to maintain a credible Tax profile for an individual. Filing of return is your duty and earns for you the dignity of consciously contributing to the development of the nation. Apart from this, your income-tax returns validate your credit worthiness before financial institutions and make it possible for you to access many financial benefits such as bank credits, etc.

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ITR 1    ITR 2a    ITR 2    ITR 3    ITR 4    ITR 4s   



Who should file return of income?


Every individual has to file the return of income if his total income (including income of any other person in respect of which he is assessable) without giving effect to the provisions of section 10A, 10B or 10BA or Chapter VIA (i.e., deduction under section 80C to 80U), exceeds the maximum amount which is not chargeable to tax i.e. exceeds the exemption limit.


Documents required to be attached with the return of income


ITR return forms are attachment less forms and, hence, the taxpayer is not required to attach any document (like proof of investment, TDS certificates, etc.) along with the return of income (whether filed manually or filed electronically). However, these documents should be retained by the taxpayer and should be produced before the tax authorities when demanded in situations like assessment, inquiry, etc.

However, in case of a taxpayer who is required to furnish a report of audit under section 10(23C)(v),10(23C)(vi), 10(23C)(via), 10A,10AA, 12A(1)(b), 44AB,44DA, 50B, 80-IA,80-IB,80-IC,80-ID, 80JJAA, 80LA,92E,115JB or 115VW shall furnish it electronically on or before the date of filing the return of income.


Applicability of ITR - 1 (SAHAJ)


Return Form ITR - 1 (SAHAJ) can be used by an individual whose total income includes:

(1) Income from salary/pension; or
(2) Income from one house property (excluding cases where loss is brought forward from previous years);
(3) Income from other sources (excluding winnings from lottery and income from race horses).

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 only when such income falls in any of the above categories.


Non-applicability of ITR - 1 (SAHAJ)


Return Form ITR - 1 (SAHAJ) cannot be used by an individual:

  • Whose total income for the year includes income from more than one house property.
  • Whose total income for the year includes income from winnings from lottery or income from race horses?
  • Whose total income for the year includes income chargeable to tax under the head "Capital Gains".
  • Whose total income for the year includes agricultural income of more than Rs. 5,000?
  • Whose total income for the year includes income from business or profession?
  • Whose total income for the year includes loss under the head "Income from other sources".
  • Who has claimed relief under section 90 and/or 91.
  • Who is having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India.
  • Any resident having income from any source outside India.

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Who cannot use ITR 2A?


This Return Form - ITR 2A cannot be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes,-

(a) Income from Capital Gains; or
(b) Income from Business or Profession; or
(c) Any claim of relief/deduction under section 90, 90A or 91; or
(d) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India; or
(e) Any resident having income from any source outside India.


Who can use ITR 2A?


Return Form ITR - 2A can be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:-

(a) Income from Salary / Pension; or
(b) Income from House Property; or
(c) Income from Other Sources (including Winning from Lottery and Income from Race Horses).

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


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Who cannot use ITR 2?


Return Form ITR - 2 can be used by an individual or a Hindu Undivided Family whose total income for the year includes:

  • Income from Salary / Pension; or
  • Income from House Property; or
  • Income from Capital Gains; or
  • Income from Other Sources (including winnings from lottery and income from race horses).

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 if income to be clubbed falls in any of the above categories.


Who can use ITR 2?


Return Form ITR - 2 cannot be used by an individual whose total income for the year includes income from Business or Profession


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Who can use ITR-3?


Return Form ITR – 3 can be used by an individual or a Hindu Undivided Family who is a partner in a firm and income chargeable to income-tax in his/its hand under the head "Profits or gains of business or profession" does not include any other income, except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from such firm.
In case a partner of the firm does not have any income from the firm by way of interest, salary, etc., and has only exempt income by way of share in the profit of the firm, he shall use Form ITR – 3 only and not Form ITR-2.


Who cannot use ITR-3?


Form ITR – 3 cannot be used by an individual or HUF whose total income for the year includes income from Business or Profession under any proprietorship.


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Who can use ITR-4S Sugam?


Form ITR – 4S (SUGAM) can be used by an individual/HUF whose total income for the year includes:

(a) Business income computed as per the provisions of section 44AD or 44AE; or; or
(b) Income from salary/pension; or
(c) Income from one house property (excluding cases where loss is brought forward from previous years); or
(d) Income from other sources (excluding winnings from lottery and income from race horses).

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.


Who cannot use ITR-4S Sugam?


Form ITR – 4S (SUGAM) cannot be used by an individual/HUF:

  • Whose total income for the year includes income from more than one house property.
  • Whose total income for the year includes income from winnings from lottery or income from race horses.
  • Whose total income for the year includes income chargeable to tax under the head “Capital Gains”.
  • Whose total income for the year includes agricultural income of more than Rs. 5,000.
  • Whose total income for the year includes income from speculative business and other special incomes.
  • Whose total income for the year includes income from profession as referred to in section 44AA(1).
  • Whose total income for the year includes income from agency business or income in the nature of commission or brokerage?
  • Who claims relief under section 90, 90A and/or section 91
  • Who is a resident and ordinarily resident and has any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India.
  • In case of a taxpayer who is engaged in any business eligible for the presumptive taxation scheme of section 44AD or section 44AEbut he does not opt for the presumptive taxation scheme, then such a taxpayer has to maintain the books of account of the business as per the provisions of section 44AA and has to get these accounts audited. In such a case he cannot use ITR 4S.

In case of a taxpayer who is engaged in any business eligible for the presumptive taxation scheme of section 44AD or section 44AE but he does not opt for the presumptive taxation scheme, then such a taxpayer has to maintain the books of account of the business as per the provisions of section 44AA and has to get his accounts audited. In such a case he cannot use ITR 4S.


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Who can use ITR-4?


Form ITR – 4 can be used by an individual or a Hindu Undivided Family who is carrying on a proprietary business or profession.


Who cannot use ITR-4?


Form ITR – 4 cannot be used by any person other than an individual or a HUF. Further, an individual or a HUF not having income from business or profession cannot use ITR – 4.


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Things to remember while filing Tax Return?


Following is the list of few important steps/points/precautions to be kept in mind while filing the return of income:
The first and foremost precaution is to file the return of income on or before the due date. Taxpayers should avoid the practice of filing belated return.

Following are the consequences of delay in filing the return of income :

  • Loss (other than house property loss) cannot be carried forward.
  • Levy of interest under section 234A.
  • Penalty of Rs. 5,000 under section 271F can be levied.
  • Exemptions/deductions under section 10A, section 10B, 80-IA, 80-IAB, 80-IB, 80-IC , 80-ID and 80-IE are not available.
  • Belated return cannot be revised under section 139(5).
  • Taxpayer should download Form 26AS and should confirm actual TDS/TCS/Tax paid. If any discrepancy is observed then suitable action should be taken to reconcile it.
  • Compile and carefully study the documents to be used while filing the return of income like bank statement/passbook, interest certificate, investment proofs for which deductions is to be claimed, books of account and balance sheet and P/L A/c (if applicable), etc. No documents are to be attached along with the return of income.
  • The taxpayer should identify the correct return form applicable in his case.
  • Carefully provide all the information in the return form.
  • Confirm the calculation of total income, deductions (if any), interest (if any), tax liability/refund, etc.
  • If any tax is payable as per the return of income, then the same should be paid before filing the return of income, otherwise return would be treated as defective return.
  • Ensure that other details like PAN, address, e-mail address, bank account details, etc., are correct.
  • After filling all the details in the return of income and after confirmation of all the details, one can proceed with filing the return of income.
  • In case return is filed electronically without digital signature and without electronic verification codes do not forget to post the acknowledgement of filing the return of income at CPC Bangalore (as discussed earlier).