Different Types Of ITR Forms, From A.Y. 2017-18 With Certain Changes

Government has change the some certain things in the ITR Forms, from A.Y. 2017-18. Some ITR form has been merged or replaced with other ITR form.New Types of ITR Form are as follows to applicable to assesses.

1. ITR-1 (Sahaj) For Individual having income from-

• Salaries, Pension, 
• Income from One House property, 
• Income from Other Sources (except lottery, winning & horse race)
• Having agriculture income below or equal to Rs. 5,000/-

2. ITR-2 (ITR-2, 2A & 3 merged in ITR-2) For Individual & HUF having income from-

• Salaries, Pension, 
• Income from House Property can be more than One,
• Share of partner Income from Firm,
• Income From Capital Gain,
• Income from Other Source, 
• Foreign Income If any,  
• Having agriculture income more than Rs. 5,000/-

3. ITR-3 (Existing ITR-4 replaced with ITR-3) For Individual & HUF having income from-

• Salaries, Pension, 
• Income from House Property can be more than One,
• Income from Proprietary Business Or Professions 
• Share of partner Income from Firm, 
• Income From Capital Gain,
• Income from Other Source, 
• Foreign Income If any,  
• Having agriculture income more than Rs. 5,000/-

4. ITR-4 (Sugam)(ITR-4S now ITR-4 Sugam) For Individual having income from-

• Income from Presumptive Business Or Profession covered under section- 44AD, 44ADA & 44AE,
• Income from One House property, 
• No Capital Gain,
• Income from Other Sources (except lottery, winning & horse race)
• Having agriculture income below or equal to Rs. 5,000/-
• No Foreign Income,If Any

5. ITR-5 For the Following Entities-

• Firms,
• Body Of Individuals (BOI),
• Limited Liability Partnership (LLP),
• Association Of Persons (AOP),
• Artifical Judicial Persons,
• Local Authorities,
• Co-Operative Societies.

6. ITR-6 Applicable to-

• For Companies except those are claiming the exemption under section 11.

7. ITR-7 Applicable to-

• Section 139(4A)- Trust
• Section 139(4B)- Political Party
• Section 139(4C)- Fund/Medical institutions, News Agency, Any institutions or association covered under section 10(23A), Any institutions covered under section 10(23B), 
• Section 139(4D)- College/Universities or any such institutions.