Which ITR Form to File for A.Y.2017-18?

You come at right place if you have confusion over which ITR form to file, which ITR form to fill and which ITR form to use while filing income tax return. We are giving here a form where you have to click your applicable income. It will let you know your applicable ITR form.

There are 7 income tax return forms ITR-1 to ITR-7 with acknowledgement. So it is not an easy task for asseesee to know which ITR form to file.

Here we’ll try to give answers all of your questions related to income tax return form i.e. which form I will use to file my income tax return? Should I file income tax return online or off-line? You must note that we’ll discuss here all the provision related to Income tax return forms for A.Y.2018-19.

Quick Check Which ITR forms to USE to File Income Tax Return for A.Y.2018-19

which itr form to file

Changes in ITR Form for A.Y. 2017-18

  • The Last year ITR 2A, ITR 2 and ITR 3 forms have subsumed in only ITR-2 Form.
  • The last year ITR 4 form has been removed and now it is ITR-3 Form.
  • The name of ITR 4S (Sugam) changed to ITR 4 (Sugam).
  • ITR 1 Sahaj is now one page form.
  • A new column has added to disclose cash deposited in banks during the period of demonetization in ITR 1, 2, 3, 4, 5, 6, 7.
  • A new column has added to quote Aadhar Number in ITR 1, 2, 3, 4.
  • Some new columns has added to add fields of income taxable at special rates in ITR 2, 3, 4, 5, 6, 7.
  • A new column has inserted to add addition tax exemption of Rs. 50,000 under section 80EE. The deduction of Rs. 50,000 extra from the tax exemption of Rs.2 lakhs on interest on housing loan. This column has inserted in ITR 2, 3 and 4.
  • A new column has inserted for declaration of assets/liabilities by individuals earning above Rs. 50 lakhs. This column has inserted in ITR 2, 3 and ITR 4.
  • The manger change has been made in ITR-4 Sugam for digital receipts vs cash payment for presumptive taxation scheme. As under section 44AD 8% of gross turnover is considered as presumptive income. But for digital receipts it will be treated as 6%.

See also: Exemption From Filing of Income Tax Return to Salaried Person having Income upto Rs.5 Lakhs

Tax payers please note that download or use e-filing utility for the relevant assessment year only.

Which ITR Form to Use Calculator For A.Y. 2016-17

ITR-1

Who can use it?

  • ITR-1 is for Individual only

Which Income is it for?

  • Income from salary, pension
  • Income from one house
  • Income from other sources

Notes

  • This form is not for HUF and for those who earn from lotteries and racing horses

ITR-2

Who can use it?

  • This form is for Individual and HUF

Which Income is it for?

  • Income from salary
  • Income from pension
  • Income from rent
  • Income from capital gains
  • Income from other sources

Notes:  Other than those included in ITR-1 and all income except not having income from business/profession

ITR-3

Who can use it?

  • ITR-3 is for individual and HUF

Which income is it for?

  • Income from partnership firm as partners like interest, salary, bonus, commission/remuneration etc. but not having any income from business and profession under any proprietorship.

ITR-4

Who can use it?

  •  ITR-4 is for individual and HUF

Which income is it for?

  • Income from business
  • Income from rent
  • Income from capital gains
  • Income from other sources

Notes

  • People having business or doing profession must file income tax return through ITR-4.

ITR-4S or SUGAM

Who can use it?

  • ITR-4S is for individuals and HUFs

Which income is it for?

  • Business with a presumptive income and gross receipts of less than Rs.1 Crore in a year

Notes

  • If net profit is less than 8% of the gross receipts then use ITR-4 instead of ITR-4S/SUGAM

See Also: Who should file income tax return?

ITR-5

Who can use it?

  • Any assessee other than individual/HUF/company/persons covered under i.e. Firms/AOP/BOI

ITR-6

Who can use it?

  • Companies

ITR-7

Who can use it?

  • Assessee including companies

Which income is it for?

  • claiming exemption u/s 11 i.e. income from property held for charitable and religious purposes, or political parties/funds/institutions/agencies required to furnish return u/s 139(4B), (4C) or (4D)

Acknowledgment Slip/ITR-V

It contains the whole summary of your information which you have filed under your ITR form.

Notes: In case the assesee is a resident and has assets (including financial interest in any entity) located outside India, or has signing authority, in any account located outside India, the return shall be filed in form ITR-2, ITR-3 or ITR-4 as applicable.

Computation of Income Tax Return and Tax Payable

You can file income tax return by the following methods:

  • Offline – Submit paper income tax return
  • Filing of Income Tax Return through Tax Return Prepare
  • Efiling of Income Tax Return either with digital signature, or without digital signature then ITV posted to Income Tax Department, Post Box No.1, Electronic City Post Office, Bangalore-560100, Karnataka.

See Also: Which Way I should File Income Return? Online, Offline or by TRP?

2 Comments

Add a Comment
  1. I am having one house on Rent and in another one I live being self occupied the income is treated as NIL Ofcourse I have pension and interest from FDs. Please guide me which ITR to use ITR1 or ITR2. Thanks in advance

  2. pankaj kumar singh

    sir i am e filling incomtax return verification form 2013-14 on 04 aug 2014 but till date not return my money.pl help me.

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