Do you know about various types of Income tax returns available and their user group?
If not then this article is made exclusively for you.
Here you can find the information regarding various returns provided by Income Tax Returns:
|1||ITR 1||For Individuals having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs.50 lakh||Yes||Yes|
|2||ITR 2||For Individuals and HUFs not carrying out business or profession under any proprietorship||No||Yes|
|3||ITR 3||For individuals and HUFs having income from a proprietary business or profession||No||Yes|
|4||ITR 4||For presumptive income from Business & Profession||Yes||Yes|
|5||ITR 5||For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7||No||Yes|
|6||ITR 6||For Companies other than companies claiming exemption under section 11||No||Yes|
|7||ITR 7||For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F)||No||Yes|