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Tuesday, October 19, 2010

Which form to be filled of Income tax for Income under different heads

Friends,

Sometimes it is very difficult to decide on which form of Income Tax one have to file his/her return. There are different sources of income like as Salary/Pension income, Income from other sources as interest, Income from House Property, Capital gains/losses, Income/Loss from Partnership Firm, Income/Loss from business, Fringe Benefit Tax. So here is table to decide which form is to be filled after deciding his/income source. 



Which Form is Applicable


For Individuals, HUF
S.No Particulars Individual Individual, HUF
Source of Income  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
Particulars
Firms,AOP,BOI, Local Authority Companies Trusts Only FBT
Source of Income  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.

You can DOWNLOAD Return Preparation Software from the site after clicking download and in the right hand side under ALL TYPE OF FORMS Tab.

So fill the form accordingly.

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