For AY 2024–2025, which ITR form should I file? Income Tax Return Forms Explained: See More Information Here

Income Tax Return (Forty-three): It’s crucial to carefully read the instructions that come with each income tax return form and choose the appropriate one based on your resident status, income sources, and other pertinent information. One of the first questions that many people have when getting ready to submit their taxes is which form to use. The Income Tax Department makes the procedure easier by providing a range of forms that are customized for each taxpayer based on their income level and other requirements.

Don’t worry if you’re not sure which form to use for your ITR file; we have you covered. See which of the following tax return forms best meets your requirements by reading about the different forms.

ITR-1 SAHAJ

For residents (other than those who are not normally residents) with a total income of up to Rs. 50 lakh, including income from salaries, one residential property, other sources (interest, etc.), and up to Rs. 5,000 from agriculture.

ITR-2

For people and HUFs who do not get money from their businesses’ or professions’ revenues and gains

ITR 3.

For people and HUFs who get money from their businesses’ or professions’ revenues and gains

ITR-4 Sugam

For inhabitants who are individuals, HUFs, or firms (other than LLPs) and whose total income does not exceed Rs. 50 lakh and whose income from a business or profession is determined in accordance with sections 44AD, 44ADA, or 44AE

ITR-5

Except for (i) individuals, (ii) HUFs, (iii) companies, and (iv) those who file Form ITR-7

ITR-6

For Businesses Other Than Those Pursuing Section 11 Exemption

ITR-7

Only for individuals, including businesses, who are obliged to submit a return in accordance with sections 139(4A), 139(4B), 139(4C), or 139(4D)

ITR-8

When information on the Return of Income was submitted but not electronically validated on Forms SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4), ITR-5, and ITR-7

Recognition

Where the information of the income return submitted and validated on Form SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4), ITR-5, ITR-6, and ITR-7

What is the “Assist me in selecting which ITR form to submit” option?

Depending on their residence status and kind of income, individual taxpayers must use different ITR forms.

There was no service available to assist individual taxpayers in determining which ITR form and schedules within the ITR form applied to them until AY 2019–20.

Individual taxpayers may use the Help Me decide which ITR form to submit service, available both online and offline, starting in Academic Year 2020–21, to ascertain the proper ITR that applies to them.

How can the “Assist me in choosing which ITR form to file” service assist you in determining the appropriate ITR form and deadlines?

With the following settings, this service assists individual taxpayers in determining the appropriate ITR form and associated schedules:

Please advise which ITR form I should submit:

Proceed in accordance with the qualifying requirements. Here are the requirements for ITR-1, ITR-2, ITR-3, and ITR-4. You may submit an ITR based on the qualifying circumstances (as relevant to your case) if you find the conditions to be clear and understand which ITR to file.
Still unclear? Allow us to assist you: Choose this option if, after reviewing the criteria, you are still unsure which ITR to submit. To find your ITR, choose the answers to the questions that are relevant to you from the wizard.

Click to assist me in determining the schedules. Find out more: Click Learn more and choose the appropriate answers to the pertinent questions for that schedule if you are unsure which schedules apply. It is your answers to the questions that cause the relevant schedules to become active.
Is it necessary to use the e-Filing portal’s “Help me choose which ITR form to file” feature before using the offline tool to file the return?

No. From the offline utility, you may directly access this service. To utilize this service, you do not need to log in to the e-filing site individually.

ITR Deadline for Filing 2024

July 31, 2024, is the deadline for filing tax returns for Academic Year 2024–2025. You have till December 31 to submit your tax returns beyond the deadline and face a penalty of Rs 5,000 if you don’t file them by then.

Always seek expert assistance if you are unsure which ITR form to submit.