Which form should I opt to file my income-tax return for the assessment year 2017-18?

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  • Last Updated on 24 August, 2021

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Here’re the list of forms for ITR filing which you should opt when you file your ITR for assessment year 2017-18.

Individual and HUF
Nature of income ITR 1 (Sahaj) ITR 2 ITR 3 ITR 4
Income from salary/pension ✓ ✓ ✓ ✓
Income from one house property (excluding losses) ✓ ✓ ✓ ✓
Income or losses from more than one house property ✓ ✓
Agricultural income exceeding Rs. 5,000 ✓ ✓
Total income exceeding Rs 50 lakhs ✓ ✓ ✓
Dividend income exceeding Rs10 lakhs taxable under Section 115BBDA ✓ ✓
Unexplained credit or unexplained investment taxable at 60% under Sections 68, 69, 69A, etc. ✓ ✓
Income from other sources (other than winnings from lottery and race horses or losses under this head) ✓ ✓ ✓ ✓
Income from other sources (including winnings from lottery and race horses) ✓ ✓
Capital gains/loss on sale of investments/property ✓ ✓
Share of profit of partner from a partnership firm ✓
Income from business or profession ✓
Income from presumptive business ✓
Income from foreign sources or Foreign assets or having Signing authority in any account outside India ✓ ✓
Claiming relief of tax under sections 90, 90A or 91 ✓ ✓
Other Assessees ITR 5 ITR 6 ITR 7
Firm (including limited liability partnership firm) ✓
Association of Persons (AOP) ✓
Body of Individuals (BOI)

Private Discretionary Trust

Estate of deceased person

Registered Society

Co-operative society

 ✓

✓

✓

✓

✓
Companies other than companies claiming exemption under Sec. 11 ✓
Persons including companies required to furnish return under:

(1) Section 139(4A);

(2) Section 139(4B);

(3) Section 139(4C); and

(4) Section 139(4D)

 ✓

ITR-1 OR SAHAJ:

ITR-1(sahaj)
Return in ITR 1 can be filed by an individual, if his total income includes:
Return in ITR 1 cannot be filed by an individual if his Total IncomeITR – 2:

 

(a) Salary or pension
(b) Income from one house property (except brought forward loss under this head)
(c) Income from other sources (excluding winnings from lottery, income from race horses, income taxable under section 115BBDA or Income of the nature referred to in section 115BBE).
(a) Exceeds Rs.50 Lakh.
(b) Includes Income from more than one House Property.
(c) Includes Income from winnings from lottery or income from race horses or income taxable under Section 115BBDA
(d) Includes Income from Capital Gains
(e) Includes Income of the nature referred in Section 115BBE.
(f) Includes Agriculture Income of more than Rs.5000
(g) Includes Income from Business or Profession.
(h) Includes Loss under the head Income from other sources
(i)

 

 

(j)

 If Individual has claimed Relief under Section 90 and/or 91.

If Resident having any assets (including Financial Interest in an entity) located outside India.

If Resident having Income from any source outside India.

 

 

ITR-2

 
Who can file return in ITR 2? Return in ITR 2 can be filed by an individual and HUF if his/its total income includes:

(a) Salary or pension
(b) Income from one or multiple house properties (including losses)
(c) Income from capital gains
(d) Income from other sources (including winnings from lotteries or horse races or losses under this head)
Who can’t file return in ITR 2? Return in ITR 2 cannot be filed by an individual and HUF if he/it has income chargeable to tax under the head ‘Profit or gains from business or profession’

ITR – 3:

 

ITR-3
Who can file return in ITR 3 Return in ITR 3 can be filed by an Individual or HUF having income from proprietary business or profession or by any partner in a partnership firm

ITR -4 OR SUGAM:

ITR-4Sugam
Who can file return in ITR 4Sugam? Return in ITR 4Sugam can be filed by an individual or HUF or a Firm (other than a limited liability partnership firm) if his total income includes:

(a) Presumptive Income computed as per the provisions of section 44AD, 44ADA and 44AE
(b) Salary or pension
(c) Income from one house property (except brought forward loss under this head)
(d)

(e)

 Income from other sources (except winnings from lotteries or horse races or losses under this head)

Income of another person like spouse, minor child etc. is to be clubbed with the income of the taxpayer, if income to be clubbed falls in any of the above categories.
Who can’t file return in ITR 4Sugam? Return in ITR 4Sugam cannot be filed by Individual/HUF if his Total Income includes :

(a) Income from more than one House Property.
(b) Income from winning from lottery or income from race horses.
(c) Income under the Head Capital Gains.
(d) Income under the Section 115BBDA
(e) Income of the nature referred to in Section 115BBE.
(f) Income includes agricultural income of more than Rs.5000/-
(g) income from speculative business and other special incomes.
(h) Income from agency business or commission or brokerage
(i) If he is Resident having Income from Any source outside India.
(j)

(k)

(l)

 If He claims Relief under Section 90, 90A, and/or Section 91.

If he is a Resident and ordinarily resident and has assets (including financial interest in any entity) located outside India or signing authority in an account located outside India.

If taxpayer is eligible for presumptive taxation of Section

44AD or Section 44AE, or Section 44ADA but he does not opt for presumptive taxation, then require to maintain Accounts and get Accounts audited.

 

For more detailed information on Income Tax Return Forms subscribe to Taxmann’s Income Tax Module.

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