Income Tax: As ITR forms enabled to file returns, check here which form you would require

The income taxation section (ITD) has already enabled each the instrumentality filing forms – ITR-1, ITR-2, ITR-4 and ITR-6 — for filing the returns astatine the e-filing portal. 

The section has released the excel inferior of ITR-6 for AY 2024-25. Prior to this, the section enabled the excel inferior of ITR-1, ITR-2 and ITR-4 for AY 2024-25. 

The excel utilities of these forms are disposable nether the ‘downloads’ fastener astatine e-filing portal. 

ALSO READ: How to assertion refund for taxation deducted connected fixed deposit involvement by the bank?

So far, the taxation section has received around 6 lakh returns successful the archetypal period of Assessment Year 2024-25. Notably, astir two-thirds of these returns person already been processed.

If you are besides readying to record your instrumentality aboriginal this twelvemonth and bash not privation to hold until July 31, you whitethorn privation to cognize which signifier you would request to record your income taxation return.

A lowdown connected ITR filing forms

ITR-1: This signifier is meant for individuals who are nonmigratory (other than not ordinarily resident) having full income up to ₹50 lakh, who person income from salaries, 1 location property, different sources (interest etc), and cultivation income up to ₹5,000.

ITR-2: This signifier is meant for Individuals and HUFs who bash not person an income from profits and gains of concern oregon profession. 

ALSO READ: ITR filing: What to bash erstwhile TDS details are not matching successful Form 16, 26AS, and AIS?

ITR-4: The income taxation instrumentality signifier 4 is meant for individuals, HUFs and firms (other than LLP) who are residents and person a full income up to ₹50 lakh, and person income from concern and assemblage which is computed nether sections 44AD, 44ADA oregon 44AE. Additionally, the payer should not person an cultivation income up to ₹5,000.

ITR-6: This taxation filing signifier is meant for the companies too the entities claiming exemption nether conception 11. 

In different news, Finance Minister Nirmala Sitharaman has refuted media reports that claimed that the BJP if re-elected volition bring immoderate cardinal changes successful the taxation strategy aft the Lok Sabha polls guarantee a victory.

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Published: 04 May 2024, 11:09 AM IST