Which itr to file?

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Satvir Singh (Querist)
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06 July 2012 Which ITR to file in following cases?

1. Individual having intt. & agriculture income?

2. HUF having only intt. income?

THANKS IN ANTICIPATION

C.A Anshul Singhal

C.A Anshul Singhal (Expert)
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06 July 2012 IN FIRST CASE -------ITR -1

C.A Anshul Singhal

C.A Anshul Singhal (Expert)
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06 July 2012 SECOND CASE -------ITR-2

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C.A Anshul Singhal

C.A Anshul Singhal (Expert)
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06 July 2012 ITR-1 Form

This Return Form is to be used by an individual whose total income for the assessment year includes:-

(a) Income from Salary/ Pension; or

(b) Income from One House Property (excluding cases where loss is brought forward from previous years); or

(c) Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses).

Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only if the income being clubbed falls into the above income categories.

ITR-2 Form

This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year includes:-

(a) Income from Salary / Pension; or

(b) Income from House Property; or

(c) Income from Capital Gains; or

(c) Income from Other Sources (including Winning from Lottery and Income from Race Horses)...

Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.

IT-3 Form

This Return Form is to be used by an individual or an Hindu Undivided Family who is a partner in a firm and where income 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, by whatever name called, due to, or received by him from such firm. In case a partner in the firm does not have any income from the firm by way of interest, salary, etc. and has only exempt income by way of share in the profit of the firm shall use this form only and not Form ITR-2.

Sugam ITR (4S)

It is applicable for small businessmen and professionals covered under presumptive taxation.

ITR-4 Form

This form is applicable, both, to Individuals and HUFs who carry out any business or professional activity in addition to having sources of income applicable to ITR-3.

ITR-5 Form

This Form can be used a person being a firm, AOP, BOI, artificial juridical person referred to in section 2(31) (vii), cooperative society and local authority. However, a person who is required to file the return of income under section 139(4) (a) or 139(4) (a) or 139(4) (b) or 139(4) (c) or 139(4) (d) shall not use this form

ITR-6 Form

This Form can be used by a company, other than a company claiming exemption under section 11.

ITR-7 Form

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).

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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06 July 2012 In both th cases ITR 2

C.A Anshul Singhal

C.A Anshul Singhal (Expert)
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06 July 2012 IN FIRST CASE-----ITR-1
IN SECOND CASE-----ITR-2

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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06 July 2012 Dear Mr. Anshul,

Please go to link below
https://incometaxindiaefiling.gov.in/portal/individual_huf.do

ITR 1 is used only for interest income and not all type of Income.

Thanks.

C.A Anshul Singhal

C.A Anshul Singhal (Expert)
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06 July 2012 DEAR MR AMIT
PLS UPDATE YOUR INFOMATION

Sr no.
Form
Person
Description
1
Sahaj (ITR-1) www.simpletaxindia.net
Individual
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 races horses)

Note:Further in a case where income of another person like spouse,minor child,etc.is to be clubbed with the assessee this return form can be used only if the income being clubbed falls in to above income categories.
2
ITR-2 www.simpletaxindia.net
Individual / HUF
Individual who can not file Sahaj above and where the total income does not include any income chargeable to income-tax under the head “Profits or gains of business or profession”,
3
ITR-3
Individual / HUF
partner in a firm and income 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, by whatever name called, due to, or received by him from such firm
4
ITR-4S
Individual / HUF
deriving business income and such income is computed in accordance with special provisions referred to in section 44AD and section 44AE of the Act for computation of business income
5
ITR-4
Individual / HUF
Not covered in sr number 1 to 4 Above and deriving income from a proprietory business or profession
6
ITR-5
Partenership Firms (& others)
Not being an individual or a Hindu undivided family or a company or a person to which Sr no 8 applies.Applicable for All source of Incomes
7
ITR-6
Company
Not covered in 8 below.All Income heads
8
ITR-7
person including a company whether or not registered under section 25 of the Companies Act, 1956
required to file a return under sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) of section 139

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CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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06 July 2012 I believe in Authenticated website..I am providing you the link of Income tax india's website for efilig of return for A.Y 12-13.

And get it clarified from other experts.

Thanks.