Form ITR-1 (Sahaj): This form is for Individuals being a Resident (other than not ordinarily resident) having total income upto Rs. 50 lakhs, having Income from Salaries, one house property, other sources (Interest, etc.), and agricultural income up to Rs. 5,000. This form is not for an individual who-
a) has assets (including financial interest in an entity) located outside India; or
b) has signing authority in any account located outside India; or
c) has income from any source outside India; or
d) is a Director in any company; or
e) has held any unlisted equity share at any time during the previous year; or
f) owns more than one house property, the income of which is chargeable under the head “Income from House Property”; or
g) has income under the head “Income from Other Sources” in the nature of:-
(i) Winnings from lottery;
(ii) Activity of owning and maintaining race horses;
(iii) Income taxable at special rates under Section 115BBDA or Section 115BBE; or
h) has any brought forward loss or loss to be carried forward under any head of income; or
i) is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assessee.
Form ITR-2: This form is for Individuals and HUFs not having income from profits and gains of business or profession.
Form ITR-3: This form is for Individuals and HUFs having income from profits and gains of business or profession.
Form ITR-4 (Sugam): This form is for individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakhs and having income from business and profession which is computed under Section 44AD, 44ADA or 44AE of the Income Tax Act, 1961. This form is not for an individual who-
a) has assets (including financial interest in an entity) located outside India; or
b) has signing authority in any account located outside India; or
c) has income from any source outside India; or
d) is a Director in any company; or
e) has held any unlisted equity share at any time during the previous year; or
f) owns more than one house property, the income of which is chargeable under the head “Income from House Property”; or
g) has income under the head “Income from Other Sources” in the nature of:-
(i) winnings from lottery;
(ii) activity of owning and maintaining race horses;
(iii) income taxable at special rates under Section115BBDA or Section 115BBE; or
h) has any brought forward loss or loss to be carried forward under any head of income; or
i) is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assessee.
Form ITR-5: This form is for persons Other than an Individual, HUF, Company and person filing Form ITR-7.
Form ITR-6: This form is for Companies other than companies claiming exemption under Section 11 of the Income Tax Act, 1961.
Form ITR-7: This form is for persons including Companies required to furnish return under Sections 139(4A) or 139(4B) or 139(4C) or 139(4D) of the Income Tax Act, 1961 only.
