Different ITR Forms for Filing Returns for F.Y 2011-12

Different ITR Forms for Filing Returns for F.Y 2011-12For filing of Income Tax Returns for Financial Year 2011-12 various forms have been released by the IT Department. Different types of ITR forms have been initiated by the department for different categories of assesses. All Individuals, Companies, Partnership firms or other associations who are required to file their Income Tax Return can avail any of these Forms as required.

In general seven types of ITR Forms have been released by the Department for various assesses which are discussed as under:

  • ITR 1 (SAHAJ): This form can be used by Individuals who drive income from salary/pension or income from one house property (excluding where loss brought forward from previous year) or income from other sources (excluding winnings from lottery and income from horse races).
  • ITR 2: This form can be used by Individuals or a HUF whose total income comprises of the following income –

     a)  Income from Salary / Pension

     b)  Income from House Property

     c)  Income from Capital Gains

     d)  Income from Other Sources

     e)  Income from Winning of Lottery

      f)  Income from Race Horses

Moreover, if the income of spouse, minor child, etc. is to be clubbed with the income of the   assessee, then ITR 2 can be used if such income falls in any of the above categories.

  • ITR 3: Can be availed by Individual/ HUF who is a partner in a firm and income is chargeable to income-tax under the head “Profits or Gains of Business or Profession” does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, due to, or received by him from such firm.
  • ITR 4: This form is used by an Individual or HUF who is carrying out a proprietary business or profession and who are not filing Return under Presumptive Taxation Scheme.

Moreover, every Partnership firms, Individuals & HUF having their tax audits mandatorily u/s 44AB is required to file their ITR-4 electronically using digital signature.

  • ITR 4S (SUGAM): For presumptive Business Income an assessee needs to file his return using this Form.
  • ITR 5: For Partnership Firms and others not being an individual or a Hindu undivided family or a company or a person to which ITR – 7 applies and is applicable for all sources of Incomes.
  • ITR 6: This form is availed by Companies other than companies claiming exemption under section 11.
  • ITR 7: This Form can be used by persons including companies who are required to furnish return under section 139(4A) or under section 139(4B) or under section 139(4C) or under section 139(4D) of Income Tax Act.

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