Home > Income Tax > Income Tax Return > Which ITR form to be used for A.Y 2016-17

Which ITR form to be used for A.Y 2016-17

The Return Forms given below are applicable for assessment year 2015-16 and 2016-17 only, i.e., it relates to income earned in Financial Year 2014-15 and 2015-16.

ITR Form Who can file Conditions
ITR-1 (SAHAJ) Individual This Return Form is to be used by an individual whose total income includes:-
(a) Income from Salary/ Pension
(b) Income from One House Property (excluding cases where loss is brought forward from previous years)
(c) Income from Other Sources (excluding Winning from Lottery and Income from Race Horses)
NOTE –  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.This Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes:-
(a) Income from more than one house property
(b) Income from Winnings from lottery or income from Race horses
(c) Income under the head “Capital Gains’ e.g., short-term capital gains or long-term capital gains from sale of house, plot,shares etc.
(d) Agricultural income in excess of 5,000
(e) Income from Business or Profession
(f) Loss under the head ‘Income from other sources’
(g) Person claiming relief under section 90 and/or 91
(h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India
(i) Any resident having income from any source outside India
ITR-2A Individual or HUF This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:-
(a) Income from Salary / Pension
(b) Income from House Property
(c) Income from Other Sources (including Winning from Lottery and Income from Race Horses). 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 where such income falls in any of the above categories.This Return Form should not be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes,-
(a) Income from Capital Gains
(b) Income from Business or Profession
(c) Any claim of relief/deduction under section 90, 90A or 91
(d) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India
(e) Any resident having income from any source outside India.
ITR-2 Individual or HUF This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:-
(a) Income from Salary / Pension
(b) Income from House Property
(c) Income from Capital Gains
(d) Income from Other Sources (including Winning from Lottery and Income from Race Horses).
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 where such income falls in any of the above categories.This Return Form should not be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes Income from Business or Profession.
ITR-3 Individual or HUF Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship.
 ITR-4S
(SUGAM)
 Individual or HUF  This Return Form is to be used by an individual/ HUF whose total income for the assessment year 2015 -16 includes:-
(a) Business income where such income is computed in accordance with special provisions referred to in section 44AD and 44AE of the Act for computation of business income
(b) Income from Salary/ Pension
(c) Income from One House Property (excluding cases where loss is brought forward from previous years)
(d) Income from Other Sources (Excluding winning from lottery and Income from Race Horses).
Note: 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: 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.ITR-4S cannot be used to file the following incomes
(a) Income from more than one house property
(b) Income from winnings from lottery or income from Race horses
(c) Income under the head ·Capital Gains”, e.g. Short-term capital gains or long-term capital gainsfrom sale of house’810t shares etc’
(d) Agricultural income in excess of 5,000
(e) Income from Speculative Business and otherspecial incomes
(f) Income from aprofession as referred to in sub-section (1) ofsection 44AA or income from an agency business or income in the nature of commission for brokerage
(g) Person claiming reliefofforeign tax paid undersection 90, 90A or 91
(h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India
(i) Any resident having income from any source outside IndiaITR-4S Business Form shall not apply at the option of the assessee, if-
(I) the assessee keeps and maintains all the books of account and other documents referred to in section 44AA in respect of the business.
(ii) the assessee gets his accounts audited and obtains are port of such audit as required under section 44AB in respect ofthe business.
In the above scenarios, Regular ITR-4 should be filed and not SUGAM
 ITR-4 Individual or HUF For Individuals and HUFs having income from a proprietory business or profession and are not eligible in other forms.
 ITR-5  For Firms, Co-operative Banks, Co-operative Societies, Limited Liability Partnerships (LLP), Association of Persons (AOP), Body of Individuals (BOI) and Artificial Judicial Persons
 ITR-6  For Companies other than companies claiming exemption under section 11
 ITR-7 For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)

Also Read:

 

Leave a Reply

Your email address will not be published. Required fields are marked *