Income Tax Filing for FY 2017-18: List of various ITR forms and which return form to use

New Delhi: The new Income Tax Return (ITRs) forms for the assessment year 2018-19 have recently been notified by the Central Board of Direct Taxes (CBDT) while some fields have been "rationalised" in the latest forms.

The field to either mention the 12-digit Aadhaar number or the 28-digit enrolment Aadhaar ID has been retained in the latest forms. The last date for filing the ITRs is July 31.

The most basic - ITR-1 or Sahaj - is to be filled by the salaried class of taxpayers, which was used by 3 crore taxpayers during the last financial year. The form this time seeks an assessee's details in separate fields such as allowances not exempt, profit in lieu of salary and value of prerequisites among others.

The CBDT said the ITR-1 can be filed by an individual who "is resident other than not ordinarily resident and having income of up to Rs 50 lakh and who is receiving income from salary, one house property or other interest income".

The ITR-2 has "also been rationalised" for individuals and HUFs (Hindu Undivided Families) having income under any head other than business or profession.

Further, the statement said, the requirement of furnishing details of cash deposit made during a specified period (in the wake of the note ban of 2016) as provided in ITR form for the Assessment Year 2017-18 has been "done away with" this time.

The CBDT says that there is no change in the manner of filing of ITR Forms as compared to last year. All these ITR Forms are to be filed electronically. However, where return is furnished in ITR Form-1 (Sahaj) or ITR-4 (Sugam), the following persons have an option to file return in paper form:

(i)  an Individual of the age of 80 years or more at any time during the previous year; or

(ii) an Individual  or HUF  whose  income does not exceed five lakh rupees  and  who has not claimed any refund in the Return of Income.

All the seven ITRs are to be filed electronically except for some category of taxpayers. Here are the list of various ITR forms explaining who can use the return form

ITR-1 SAHAJ

This Return Form is to be used by an individual whose total income for the assessment year 2018-19 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, Income taxable under section 115BBDA or Income of the nature referred to in section 115BBE)

However, 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.

FORM ITR-2

This Return Form is to be used by an individual or an Hindu Undivided Family who is not eligible to file Sahaj ITR-1 and whose income chargeable to income-tax under the head “Profits or gains of business or profession” is in the nature of interest,  salary,  bonus,  commission  or  remuneration,  by  whatever  name  called,  due  to,  or  received  by  him  from a partnership firm.

FORM ITR-3

This Return Form is to be used by an individual or a Hindu Undivided Family who is carrying out a proprietary business or profession.

ITR-4 SUGAM

This Return Form is to be used by an individual/ HUF/ Partnership Firm whose total income for the assessment year 2018-19 includes:-

(a) Business income where such income is computed in accordance with special provisions referred to in sections 44AD and 44AE of the Act for computation of business income; or
(b) Income from Profession where such income is computed in accordance with special provisions referred to in sections 44ADA; or
(c) Salary/ Pension; or
(d) Income from One House Property (excluding cases where loss is brought forward from previous years); or
(e) Income from Other Sources (excluding Winning from Lottery and Income from Race Horses).

Note 1: The income computed shall be presumed to have been computed after giving full effect to every loss, allowance, depreciation or deduction under the Income-tax Act.
Note 2: 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.

FORM ITR-5

This Form can be used by a person being a firm, LLPs, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), persons referred to in section 160(1)(iii) or (iv), cooperative society, registered societies and local authority. However, a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4F) shall not use this form.

FORM ITR-6

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

Form ITR-7

This  Form  can  be  used  by  persons  including  companies  who  are  required  to  furnish  return  under  section  139(4A)  or section 139(4B) or section 139(4C) or section 139(4D) or section 139(4E)or section 139(4F).