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Income Tax Department Notifies ITR 1, 2, 3, 4, 5, 6, 7 for Taxpayers

IT Department Tax Refunds with Pre-validated Bank Accout

The government of India has made some changes to income tax forms that people need to fill out while filing their income tax returns. The new forms are called ITR-1 and ITR-4 and will be used for the assessment year 2024-25. Read PDF

The IT department has enabled the offline utility for MAC and Windows platforms. The assessee can e-file ITR 1, ITR 2, ITR 3, and ITR 4 for the AY 2023-24. Lets us have a deeper into Income Tax Return ITR Form.

ITR 1 Form is filed by taxpayers and individuals who are a Resident with a total Income of up to INR 50 lakhs when the Income is from Salaries, One House Property, Other Sources (Interest, dividend, etc.), and Agricultural Income up to INR 5 thousand.

ITR 1 SAHAJ Form is not for Non-ordinary residents, or for an individual who is either Director in a company or has done an investment in Unlisted Equity Shares.

The ITR-2 is filed by the individuals or HUFs who are earning income other than income from “Profits and Gains from Business or Profession and the Individuals who are not eligible to file the ITR-1 Form”.

The ITR-3 Form can be filed by those Individuals and Hindu Undivided Families having income from Proprietary business or from carrying out his/her profession and who are not eligible to file ITR 1, ITR 2 or ITR 4.

ITR 4 Sugam Form is for taxpayers who have opted for the presumptive income scheme under Section 44AD, Section 44ADA, and Section 44AE of the Income Tax Act.

Note: If the turnover of the business is more than Rs 2 crores then the taxpayer will have to file ITR-3.

ITR 5 Form is meant for firms, LLPs, AOPs (Association of persons) and BOIs (Body of Individuals), Artificial Juridical Person (AJP), co-operative society, Estate of deceased, Estate of insolvent, Business trust and investment fund, subject to some conditions.

ITR 6 is a tax return form for all the companies which are not claiming the exemption u/s 11 (Income from property held for charitable or religious purposes). The 31st of October is the due date for filing the ITR 6 for AY 2023-24.

ITR 7 Form is meant for all Charitable /Religious trusts u/s 139 (4A), Political party u/s 139 (4B), Scientific research institutions u/s 139 (4C), University or Colleges or Institutions or Khadi and Village industries u/s 139 (4D) which are requiring the exemptions. There are different sections divided into categories namely:

  • Under Section 139 (4A)- if they earn from a charitable /religious trust
  • Under Section 139 (4B)- if they earn from a political party
  • Under Section 139 (4C)- if they earn from scientific research institutions
  • Under Section 139 (4D)- if they earn from university or colleges or institutions or khadi and village industries

Sections 10(23C)(iv), 10(23C)(v), 10(23C)(vi), 10(23C)(via), 10A, 10AA, 12A(1)(b), 44AB, 44DA, 50B, 80-IA, 80-IB, 80-IC, 80-ID, 80JJAA, 80LA, 92E, 115JB or 115VW mandates the electronic filing on or before the date of filing the return of income.

Gen Income Tax Software is an advanced software solution for faster return filing of ITR 1 to ITR 7 forms that fulfil all your computation needs in compliance with the prevailing Income Tax norms. Calculation of Income Tax, Self Assessment Tax, Advance Tax and Interest calculation u/s 234A,234B,234C could have never become so accurate and hassle-free without the invention of this “Gen Income Tax Software”.

File ITR Forms Via Gen IT Software, Get Demo!

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    The software is meticulously designed, well considering all the government rules and regulations, in such a way that there is no room left for errors and the returns can be uploaded directly to the government income tax online portal.


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    Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

    Published by Atul Mittal
    Atul is a professional content writer with specialisation in business and marketing content. I have been writing tax articles and news for about two years now and have good experience in GST and income tax domains. View more posts
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    16 thoughts on "Income Tax Department Notifies ITR 1, 2, 3, 4, 5, 6, 7 for Taxpayers"

    1. I am a retired teacher and receiving a pension. I withdraw cash exceed i ng2000000 tds deducted. i am filling itr continuously sincelast20years.which it form applicable in which head withdraw amount shown

    2. Section 194 jb kis itr mai file karna hogy mai technical consultancy per tha tds 6720 rs claim karna h plz reply me

    3. I had worked as a Coding teacher with Whitehat Jr. They had paid me the salary and issued Form 16-A for the TDS deducted by them under Section 194-JB. Please advise which ITR to be filed and under which head this income will be shown in ITR.

      1. I retired in Jan,2021 My gross income Including commutation of PF, gratuity, leave incashment, interest income is more than Rs 50lacs, but taxable is less than 27 lac, which form reqired to be fill
        ITR 1 or ITR2.
        I have income from salary, divided,, interest income only

    4. Hi, In AY 20-21 I was in the job for 4 months and then I started a business for the rest of the AY. Which ITR, I shall file?

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