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Income Tax filing – Which Form is right for you?

Through Latest Amendments, the Central Board of Direct Taxes (CBDT) has prescribed new return of income tax forms for the assessment years 2008-09 onwards, as shown below.

  • ITR-1 Individuals having salary, pension,family pension or interest income.
  • ITR-2 Individuals and Hindu undivided family (HUFs) not having income from business or profession.
  • ITR-3 Individuals and HUFs who is a partner in partnership firm but does not carryon a proprietary business or profession.
  • ITR-4 Individuals and HUFs carrying on a proprietory business or profession.
  • ITR-5 Partnership firms, Association of Persons (AoP) and Body of Individuals (BoI).
  • ITR-6 Companies other than companies claiming exemption under section 11.
  • ITR-7 Persons including companies which are charitable or religious trust, political party, scientific research association, news agency, hospital, trade union, university, college or other institution specified in sub-section (4A), (4B), (4C) and (4D) of section 139 of the Act.
  • ITR-8 Persons not liable to file return ofincome but are liable to file return of fringe benefits ITR-V Where the data of the return of income or Fringe benefits in Forms ITR-1, ITR-2, ITR-3, ITR-4 ITR-5, ITR-6 &ITR-8 is transmitted electronically without digital signature.
  • Form No. BA: For filing net wealth of individuals/HUFs and companies from Assessment year 1993-94 onwards.

The above forms are not required to be filed in duplicate. But where the return form is filed in paper format, acknowledgement slip attached should be duly filled in.

Where a return of income or return of fringe benefits, relates to the assessment year commencing on the 1st day of April, 2007 or any earlier assessment year, it shall be furnished in the appropriate form as applicable in that assessment year.

All these Forms (except Form ITR-7) have been designed as annexure-less so as to make them amenable for electronic filing. Thus except form ITR-7, which is in respect of charitable/religious trusts, political parties and other non-profit organizations, all the forms can be electronically filed.

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