Frequently Asked Questions
What is ITR-1 (Sahaj) and who can file it? ＋
ITR-1 is for resident individuals with income from salary/pension, one house property (not let out with carried forward losses), and other sources. Total income must be ₹50 lakh or below. You cannot file ITR-1 if you have capital gains, foreign assets, or agricultural income above ₹5,000.
What is ITR-2 and who needs to file it? ＋
ITR-2 is for individuals and HUFs who do not have income from business or profession. It covers capital gains (stocks, mutual funds, property), foreign assets, more than one house property, income above ₹50 lakh, and carry forward losses.
What is ITR-3 and when is it applicable? ＋
ITR-3 is for individuals and HUFs having income from business or profession with full books of accounts. It also covers all income types in ITR-2 plus business income. Directors of companies and those with unlisted equity shares also file ITR-3.
What is ITR-4 (Sugam) for presumptive income? ＋
ITR-4 is for individuals, HUFs, and firms (not LLP) with income under presumptive taxation schemes — Section 44AD (business turnover up to ₹2Cr), 44ADA (professionals up to ₹50L), or 44AE (transporters). Total income must not exceed ₹50 lakh.
What happens if I file the wrong ITR form? ＋
Filing the wrong ITR form makes the return defective. The Income Tax Department will send a notice under Section 139(9) asking you to file a revised return in the correct form within 15 days. Failure to respond may treat the return as invalid.