The Income Tax Return (ITR) is a form that a person needs to submit to the Income Tax Department of India. A taxpayer has to file information related to the income and taxes that he/she is liable to pay in a financial year. It is mandatory to file an ITR, and you should file it on or before the due date. The information should be for the period of 1st April of the current year to the period ending 31st March of the next year.

As per the Income Tax Department of India, there are various types of ITR forms. The applicability of the ITR form depends on the amount of income of the taxpayer.

Below is the table of the various forms, and it is applicable to the various sections of the people in India:

ITR-1 (also called Sahaj)Resident individuals having an income of less than Rs.50 lakhs from the below sources:

  • Salary / Pension
  • House Property
  • Other Sources
ITR- 2 Income from:

  • Every Income from ITR-1 > Rs.50 Lakhs
  • House Property
  • Foreign Asset
  • Capital Gains 

Holding Directorship in a Company

Holding unlisted Equity Shares

ITR- 3Income from:

  • Every income from ITR-2
  • As a partner in a firm
  • Business/ Profession
  • Presumptive income >Rs.50 lakh
ITR- 4Every income from ITR-1

Presumptive income under 

  • Salary/Pension
  • Property
  • Other sources

Total Income <Rs.50 Lakhs

ITR- 5
  • Firms
  • AOPs
  • BOIs
  • LLPs
ITR- 6Entities not claiming tax deductions under Section 11
ITR- 7Companies/ individuals under

  • Section 139(4A)
  • Section 139(4B)
  • Section 139(4C)
  • Section 139(4D)


Who should file Income Tax Returns?

According to the Income Tax Act, taxes need to be paid by individuals or businesses who fall under income tax slabs. However, the following individuals and entities are compulsorily required to file ITR in India:

  • All individuals (up to 59 years of age) with total income exceeding Rs.2.5 Lakh in a financial year. 
  • Senior citizens (between 60 and 79 years) with a total income of Rs.3 Lakhs
  • Super Citizens (80 years and above) with a total income of Rs.5 Lakhs
  • All registered companies that generate income, regardless of the profit or loss
  • Individuals who want to claim a refund for the excess tax deduction
  • NRIs who are earning income from assets in India. 
  • NRIs who earn Rs. 2.5 lakh in India in a single financial year.
  • Foreign companies that enjoy treaty benefits on transactions made in India.

Documents required for filing an ITR:

  • Pan card
  • Form 26AS
  • Form 16A, 16B, 16C
  • Salary Payslips
  • Bank statements
  • Interest certificates
  • TDS certificate
  • Proof of tax-saving investments

ITR needs to be filed on or before the specified due date to avoid any penalties from the IT Department. The date varies depending on the type of applicants. Individuals, professionals, small businesses, etc., have to file ITR for AY 2021-22 by 31st July 2021. For working partners, LLPs, companies and tax audit cases, the filing should be on or before 31st October 2021. 

How to file for ITR?

Step 1: Visit for e-filing of ITR

Step 2: In case you are a new user, then click on the ‘Register’ button.

Step 3: Registered users can directly click on the “Login” option.

Step 4: Click on the ‘File Income Tax Return’ option under the ‘e-file’ tab.

Step 5: From the list provided on the website, you have to choose the category that you fall under – individual, Hindu Undivided Family (HUF), and so on.

Step 6: Select the suitable ITR Form that is applicable for you

Step 7: Enter your bank details. If you have previously provided the details, you will be required to pre-validate the same

Step 8: You will be redirected to a new page that includes the pre-filled details. Validate the same and confirm

Step 9: Once the process is complete, verify the returns and send a hard copy of the same to the Income Tax Department.


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