ITR Form Selector Guide: Choose the Right Income Tax Return#
ITR Form Selector Guide#
Choosing the right Income Tax Return (ITR) form is crucial for a hassle-free filing experience. Using the wrong form can lead to rejection of your return.
ITR Forms Overview#
| ITR Form | Who Should Use |
|---|---|
| ITR-1 (Sahaj) | Salaried individuals with income up to Rs 50 lakh, having income from salary, one house property, and other sources |
| ITR-2 | Individuals with income from capital gains, foreign assets, or holding directorship in a company |
| ITR-3 | Individuals with business or professional income, including freelancers and contractors |
| ITR-4 (Sugam) | Individuals with business income under presumptive taxation (up to Rs 2 crore) |
| ITR-5 | Partnership firms, LLPs, and other entities |
| ITR-6 | Companies (other than companies claiming exemption under Section 11) |
| ITR-7 | Persons including companies required to furnish return under Section 139(4A), (4B), (4C), (4D) |
Quick Guide#
Use ITR-1 if:
- You are a salaried employee
- Your total income is up to Rs 50 lakh
- You have income from salary, one house property, and other sources (like interest)
Use ITR-2 if:
- You have capital gains from investments
- You have foreign assets or income
- You hold directorship in a company
Use ITR-3 if:
- You have business or professional income
- You are a freelancer or contractor
- You earn income from partnership firms
Important Notes#
- Using the wrong ITR form will result in rejection
- You cannot revise a return rejected due to wrong form selection
- Always verify your income sources before selecting the form