Depending upon your income, you need to use different income tax forms which can be easily downloaded from the official website of Income Tax Department of India @ https://incometaxindiaefiling.gov.in/portal/selectforms.do . The instructions for the form are available in both Hindi and English. Some of the types of income tax forms and who can use them are given below:
ITR 1: This type of income tax return form can be used by an individual whose only income is from salary, interest and pension and other resources but excluding income gain from winning lottery or horse racing. It is a simple income tax return form and is also known by the name of Sahaj. Those who are located outside of India or have a signing authority in any of the account placed outside the country cannot use this return form.
ITR 2: This return form can be used by anyone who gains income under various heads but not through a particular profession or business. It is especially meant for HUFs and individuals. It can be used by Hindu Undivided Family or an individual whose complete income comes from pension or salary, house property, capital gains and other sources such as lottery winning and horse racing. This form can also be used to file returns if the income of other persons in the family is to be clubbed such as minor child, spouse, etc along with the assesee’s income.
ITR 3: This form can be used by an individual who is a partner in a firm or in HUF and is not part of any profession or business under a particular proprietary.
ITR 4: This income tax return form is also termed as Sugam and had to be submitted by an individual who has an earning from profession or business. Technically, it is also termed as presumptive business income tax return. It is also applicable to HUFs and individuals who have regular income from a profession or proprietary business.
ITR 5: It is meant for AOP, BOL, Firms, and local authority.
ITR 6: It is meant for companies other than those seeking exemption through section 11.
ITR 7: It is applicable for authorized Trusts. People who submit income tax return under this form need to furnish the documents under 139(4A) /section, 139(4B) / section, 139(4C) / section 139(4D)
ITR 8: It is used only for filing FBT Returns.
