Income tax return
Again the
time has come when you have to assess your total income and file the income tax
return. Are you in confusion which return is to be filed?
Our
professional services will help you in determining the return which is to be
filed.
Every
assessee having income of more than 5 lakhs is required to file his income tax
return. Those tax payers having income of less than 5 lakhs can either submit
their return online as well as offline.
However,
salaried taxpayers of income less than 5 lakhs on which TDS has been deducted
are exempted from filing the income tax return.
Here is a summary of all returns to
be filed:
ITR-1 SAHAJ: For Salaried Individual
ITR 1 (sahaj) can be used by class of individuals
whose total income includes:
·
Income
from salary/pension or
·
Income
from 1 house property(excluding cases where loss is brought forward from
previous year)
·
Income
from other sources(excluding winning from lottery and income from horse race)
ITR-2 : For
individuals and HUF not having income from business and profession
Itr 2 can be used by individuals or
HUF whose total income includes:
·
Income
from salary/pension
·
Income
from house property
·
Income
from capital gains
·
Income
from other sources
ITR-3: For individuals and HUF being partners in Firm but not carrying
business under proprietorship
This form is used by a individual or HUF who is a partner in a firm.
However ITR 3 cannot be used by individuals who are earning income from any
proprietorship firm.
ITR-4 for individual earning income from proprietorship
Itr 4 can be used by any
individual who is earning income from any proprietory business or profession.
ITR-4S SUGAM: Presumptive tax income
This itr can be used by individuals
or HUF whose total income includes:
·
Business
income where income is computed with special provisions referred to in sec 44AD
and 44AE
·
Income
from salary/pension
·
Income
from 1 house property(excluding cases where loss is brought forward from
previous years)
·
Income
from other sources(excluding winning from lottery and income from horse races)
ITR-5 For Firms, AOP, BOI
This income
tax form can be used by a person being a firm, LLP, AOP, BOI, Artificial
Judicial Person, cooperative society or a local authority.
ITR-6
This itr is
to be filed by the companies other than those companies claiming exemption
under sec 11.
ITR-7
This itr is
used to be filed by the assesses which are reqd to furnish return under:
1. Section 139(4A)
2. Section 139(4B)
3. Section 139(4C)
Company India Advisors Private Limited
Company India Advisors Private Limited
A-20 Lower Ground Floor Kamla Nagar, Delhi. 110007India.
Phone: +91 981 809 2002
Email ID:- companyestart@gmail.com or
companyindiaadvisors@gmail.com
