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ITR Forms for AY 2021-22 (FY 2020-2021)| Applicability | Non-Applicability |


1. ITR-1 (Sahaj)

Applicability:

  • Salary or pension income or

  • Income / Loss from one house property excluding cases where loss is brought forward from previous years or

  • Total income Upto Rs. 50 Lacs

  • Income from other sources excluding winning from lottery and Income from Race horses &

Non-Applicability:

  • An Individual having Total Income more than Rs. 50 Lakhs

  • An individual who is either a director in a company and has held any unlisted equity shares at any time during the FY.

  • Residents not ordinarily resident (RNOR) and non-residents.

  • Also, individuals who have earned income through the following means:

  1. More than one House Property

  2. Lottery, Racehorses, Legal Gambling etc.

  3. Taxable capital gains (Short term and Long term)

  4. Agricultural income exceeding Rs. 5,000

  5. Business and Profession

  6. Individual who is a Resident and has assets (including financial interest in any entity) outside India or signing authority in any account located outside India.

  7. Individual claiming relief of foreign tax paid or double taxation relief under section 90/90A/91.

2. ITR-2

Applicability:

ITR Form 2 is for Individuals and HUF receiving income other than income from “Profits and Gains from Business or Profession”. Thus persons having income from following sources are eligible to file Form ITR 2:


  • Income from Salary/Pension if more than 50 lakhs

  • Income from House Property(Income Can be from more than one house property)

  • Income from Capital Gains/loss on sale of investments/property (Both Short Term and Long Term)

  • Income from Other Sources (including winning from Lottery, bets on Race Horses and other legal means of gambling)

  • Foreign Assets/Foreign Income

  • Agricultural Income more than Rs 5000

  • Resident not ordinarily resident and a Non-resident

  • A Director of any company and an individual who is invested in unlisted equity shares of a company

Non-Applicability:

  • Any individual or HUF having income from Business or Profession

  • Individuals who are eligible to fill out the ITR-1 Form


3. ITR-3


Applicability:

The ITR 3 is applicable for individual and HUF who have income from profits and gains from business or profession. The persons having income from following sources are eligible to file ITR 3 :

  • Carrying on a business or profession (both tax audit and non-audit cases)

  • The return may include income from House property, Salary/Pension, capital gains and Income from other sources

  • Income of a person as a partner in the firm


4. ITR-4


Applicability:

The ITR-4 Form is the Income Tax Return form for those taxpayers, who have opted for the presumptive income scheme as per Section 44AD, Section 44ADA and Section 44AE of the Income Tax Act. However, if the turnover of the business mentioned above exceeds Rs 2 crores, the taxpayer will have to file ITR-3. ITR 4 is to be filed by the individuals/HUF/ partnership firm whose total income of AY 2020-21 includes:

  • Business income under section 44AD or 44AE

  • Income from profession calculated under section 44ADA

  • Salary/pension having income up to Rs 50 lakh d. Income from One House Property having income up to Rs 50 lakh (excluding the brought forward loss or loss to be carried forward cases under this head);

  • Income from Other Sources having income up to Rs 50 lakh (Excluding winning from lottery and income from horse races).

Non-Applicability:

  • An individual having income from salary, house property or other sources above Rs 50 lakh cannot use this form.

  • An individual who is either a director in a company and has invested in unlisted equity shares cannot use this form.

  • An individual, HUF or partnership firm whose books of accounts should be audited under the Income Tax Act, 1961.

  • Having income from any source outside India

  • If you have signing authority in any account located outside India

  • Owning any foreign asset


5. ITR-5


Applicability:

  • Firms

  • LLPs

  • AOPs (Association of persons)

  • BOIs (Body of Individuals)

  • Artificial Juridical Person (AJP)

  • Estate of deceased

  • Estate of insolvent

  • Business trust and

  • Investment fund

Non Applicability:

  • Individual

  • HUF

  • Company

  • Person filing ITR-7

6. ITR-6


Applicability:

Companies other than companies claiming exemption under section 11 (Income from property held for charitable or religious purposes), this return has to be filed electronically only.


7. ITR-7


Applicability:

  • Return under section 139(4A) - Charitable Trust

  • Return under section 139(4B) - Political Party

  • Return under section 139(4C)-

  1. Scientific research association;

  2. News agency ;

  3. Association or institution referred to in section 10(23A);

  4. Institution referred to in section 10(23B);

  5. Fund or institution or university or other educational institution or any hospital or other medical institution

  • Return under section 139(4D) - every university, college or other institution, which is not required to furnish return of income or loss under any other provision of this section.

  • Return under section 139(4E) - every business trust which is not required to furnish return of income or loss under any other provisions of this section.

  • Return under section 139(4F) - any investment fund referred to in section 115UB. It is not required to furnish return of income or loss under any other provisions of this section.






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