Which forms should different taxpayers use?
ITR 1 (Sahaj)
To be used by taxpayers with: * Salary or pension. * Rental income from only one property. * Capital gains that are tax-free. * Income from interest and other sources.
NOTE: This form is not to be used if the taxpayer has foreign assets. This is a coloured form. If you are using a photocopy or taking a print, make sure it is in colour.
ITR 2
To be used by taxpayers with: * Salary or pension. * Rental income from more than one property. * Brought forward capital losses. * Capital gains. * Income from interest and other sources, including winnings from lottery, income from race horses. * Foreign assets.
ITR 3
To be used by partners in a firm with: * Interest, salary, bonus, commission or remuneration. * Salary or pension. * Capital gains. * One or more house or losses that have been brought forward. * Income from other sources, including winnings from lottery and income from race horses.
ITR 4
To be used by taxpayers with: * Income from business/profession. * Income from any other head. * Foreign assets.
ITR 4S (Sugam)
To be used by taxpayers with: * Business or profession with presumptive income and gross receipts of less than 60 lakh a year.
NOTE: If income is less than 8% of the gross receipts, the taxpayer has to use ITR 4. This is a coloured form. If you are using a photocopy or taking a print, make sure it is in colour.
ITR V
This is the acknowledgement form and is to be used by all taxpayers. If you file physical returns, you have to submit this form along with the relevant ITR. If you e-file without a digital signature, you have to send the signed ITR V to CPC in Bangalore by ordinary post within 120 days.
NOTE: Till the signed ITR V reaches the CPC, your return will not be considered complete.
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