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Which ITR form to fill – ITR1, ITR2 or ITR4?

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Guide to ITR and Sahaj, Sugam tax forms to help you identify which ITR form to pick for filing your tax return in Financial Year 2012-13.

Income Tax department has unveiled the new income tax return forms for the Assessment Year 2013-14 i.e. Sahaj and Sugam.Thus making the existing Saral II forms no longer applicable. The main intention behind the modification is to simplify the ITR forms and make it user friendly

SAHAJ and SUGAM are the first technology enabled Tax Payer Friendly Forms in the country. “Sahaj” and ”Sugam” aimed at reducing compliance burden on salaried persons and small businessmen. While Sahaj is for salaried people, Sugam return form is applicable for small businessmen and professionals covered under presumptive taxation.

Benefits of SAHAJ and SUGAM Forms are listed below

  • Simpler and Tax Friendly forms
  • Enhanced Accuracy in processing
  • Cost Optimization
  • Automation and Harnessing Technology
  • Implementation of International best practices
  • Increased Transparency
  • Simplicity in record management system

Applicability of these forms depends on tax payer’s source of income. It is thus important to know the relevance of each of these forms

ITR-1 Form

This Return Form is to be used by an individual whose total income for the assessment year includes:-

(a) Income from Salary/ Pension; or

(b) Income from One House Property (excluding cases where loss is brought forward from previous years); or

(c) Income from Other Sources (Excluding 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 only if the income being clubbed falls into the above income categories.

Note: ITR1 can be filed only if Exempt Income (Section 10) is less than Rs. 5,000. Else, ITR2 needs to filed.

ITR-2 Form

This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year includes:-

(a) Income from Salary / Pension; or

(b) Income from House Property; or

(c) Income from Capital Gains; 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.

Download ITR-1 Form for AY 2013-14

Download ITR-2 Form for AY 2013-14

Download ITR-3 Form for AY 2013-14

Download ITR-4 Form for AY 2013-14

Download ITR-4S Form for AY 2013-14

Download ITR-V Form for AY 2013-14

Note: Right click on the above links and click on ‘save link as’ to save it on your computer.

IT-3 Form

This Return Form is to be used by an individual or an Hindu Undivided Family who is a partner in a firm and where income chargeable to income-tax under the head “Profits or gains of business or profession” does not include any 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 in 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 shall use this form only and not Form ITR-2.

Sugam ITR (4S)

It is applicable for small businessmen and professionals covered under presumptive taxation.

ITR-4 Form

This form is applicable, both, to Individuals and HUFs who carry out any business or professional activity in addition to having sources of income applicable to ITR-3.

ITR-5 Form

This Form can be used a person being a firm, AOP, BOI, artificial juridical person referred to in section 2(31) (vii), cooperative society and local authority. However, a person who is required to file the return of income under section 139(4) (a) or 139(4) (a) or 139(4) (b) or 139(4) (c) or 139(4) (d) shall not use this form

ITR-6 Form

This Form can be used by a company, other than a company claiming exemption under section 11.

ITR-7 Form

This Form can be used by persons including companies who are required to furnish return under section 139(4A) or under section 139(4B) or under section 139(4C) or under section 139(4D).

ITR-V/Acknowledgement Form

Acknowledgement form for all ITR- Forms

  • Vaibhav

    Thanks for the informative article. Regarding ITR1, could you please elaborate if exempt income under section 10 clause is also applicable to the allowances exempt under section 10 e.g. Conveyance allowance, which is normally Rs. 9600 pa for most of the people. So do they all need to file ITR2 if it is considered as exempt income us10?

    • Av Suresh

      Yes, Vaibhav. All exempt incomes are part of section 10. Conveyance allowance is also part of it. This is the reason why most of the employees would have to file ITR-2.

      • Vaibhav

        Thanks Suresh. However, many of my colleagues have submitted ITR1 previous year and they too were accepted by IT department. Does this mean it is not compulsory to file returns using ITR2 for salaried employees, even if their conveyance allowance exceeds Rs. 5000?

        Moreover, if I’ve to file returns online, then e-filing website provides only 2 options ITR1 & ITR4S in the section ‘ e-File >> Prepare and Submit Online ITR’. Hence am still confused if it is ok for me to file ITR1 this year, even if I had filed ITR2 in the previous year?

        Regards,

        -Vaibhav

        • Vaibhav

          Hello Suresh, Can I request your expert opinion on my above query?

          Thanks,
          -Vaibhav

          • yogiexpert

            Vaibhav, filing ITR-2 is compulsory for exempt income of Rs. 5000 p.a. In the income tax filing portal, you can file returns of ITR-1, ITR-2, ITR-4, etc. It can be done from submit returns/forms section. In case you face issues, you can contact the income tax e-filing helpline i.e. 1800 4250 0025

          • Vaibhav

            Thanks..

          • Vaibhav

            Hello,

            Can you please shed some light on what needs to be entered in “EI” tab of ITR2 and how, if my Conveyance & HRA are more than Rs. 5000. Please note these are already considered while arriving at Income chargeable under the head ‘Salaries’.

            Thanks,

  • Nabarun Dasgupta

    I filed my return for AY 2013-14 but mistakenly I put nature of business or profession as 0809 instead of 0204 as I filed it last year and time to change return has exceeded. Is it a problem and how to rectify it?

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