As per the Income Tax Law, there are different forms of returns prescribed for different taxpayers. The forms applicable for AY 2018-19 (FY 2017-18) are as following:
FORM | APPLICABLE WHEN YOU HAVE - |
ITR-1 | Salary/Pension, One House Property Income, Other Sources (Income shall be less than Rs.50 Lakhs) - Applicable for Resident Indians only from AY 18-19). |
ITR-2 | Everything from ITR-1 (or when your income is more than Rs.50 Lakhs), Capital Gains, Foreign Income, Agriculture Income more than Rs.5000. (Applicable for RNOR (Resident but Not Ordinarily Resident) and NRIs (Non-Resident Individuals) also from AY 18-19) |
ITR-3 | Everything from ITR-2 + Business/Profession Income (Applicable for Partners having Income from Partnership Firm from AY 18-19) |
ITR-4 | Presumptive Business Income under Section 44AD(Deemed Profit 8% or 6%), Section 44ADA(Deemed Profit 50%), Section 44AE(Deemed Profit-Rs.7500/vehicle pm) - GSTR No. And Turnover/Gross Receipts details required as per GST Return filed while filing ITR from AY18-19. |
ITR-5 | Partnership Firms, Limited Liability Partnerships (LLPs), AOP’s (Association of Persons), Artificial Juridical Persons (AJP’s), Body of Individuals (BOI’s) and Local Authorities. |
ITR-6 | Companies |
ITR-7 | Persons/Companies under Section 139(4A), Section 139(4B), Section 139(4C), Section 139(4D) |