Important Information for Individuals to help you decide which ITR Form to Use for E Filing

IMPORTANT INFORMATION ITR Form to Use for E Filing

ITR 1 This simple ITR form is applicable for Resident Individuals only in cases where

Total Income < Rs 50 lacs . The income may consist of various forms like Salaries, Interest Income etc. Property owners deriving income from one property can also us ITR 1 form. Be careful if you are earning Rental income from more than 1 property this form can’t be used.

ITR 2 This ITR utility is applicable for Individuals and HUF’s not having income from Business and Profession. Likewise this form can be used

Where Total Income > Rs 50 lacs . The income may consist of various forms like Salaries, Interest Income etc. Property owners deriving income from one or multiple properties can use ITR 2 form.

ITR 3 This comparatively complex ITR utility is applicable for Individuals and HUF’s having income from Business and Profession. Likewise this form can be used

Individuals and HUF’s having income from Business or Profession.

By both Residents and Non Resident Indians.

This form being extensive has the functionality to capture all sources of income in it.

ITR 4 This is one of the most important and simple forms introduced by the IT department . It is applicable to

Please be aware that if you are Director in the company then you can’t use ITR 4 for your ITR Filing. But if you want to take advantage of Presumptive sections you can do the same by using ITR 3 form

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