WHICH ITR FORM IS APPLICABLE ON MY INCOME???

Dear friends ,
some of readers are asking me which form is applicable for them .Income tax department has prepared a very brief tabulated chart for income wise detail for individual and huf in first part and second part for Firms, Associations of Persons (AOP), Body of Individuals (BOI), Local Authority, Companies, Trusts, Fringe Benefit Tax (FBT) Return.so these detail will be helpful to assessee to select the correct ITR form for their respective income details.if after reading this chart given below some query remains in your mind then kindly discuss it in comment form given below

Which Form is Applicable

For Individuals, HUF S.No For Þ Individual Individual, HUF Source of Income ß ITR-1 ITR-2 ITR-3 ITR-4 1 Income from Salary/Pension • • • • 2 Income from Other Sources (only Interest Income or Family Pension) • • • • 3 Income/Loss from Other Sources   • • • 4 Income/Loss from House Property   • • • 5 Capital Gains/Loss on sale of investments/property   • • • 6 Partner in a Partnership Firm     • • 7 Income from Proprietary Business/Profession       • For Firms, Associations of Persons (AOP), Body of Individuals (BOI), Local Authority, Companies, Trusts, Fringe Benefit Tax (FBT) Return S.No For Þ Firms,AOP,BOI, Local Authority Companies Trusts Only FBT Source of Income ß ITR-5 ITR-6 ITR-7 #See Note ITR-8 1 Income / Loss from Other Sources • • • 2 Income / Loss from House Property • • • 3 Capital Gains / Loss on sale of Investments / Property • • • 4 Income / Loss from Business • • • 5 Fringe Benefit Tax • • • • #Note: ITR-7 will not be available for e-Filing.

Labels: changes in new itr forms, HOW TO SELECT ITR FORMS, INCOME WISE ITR FORMS, ITR FORM SELECTION, new itr forms

Friday 10 April 2009