Income Tax Return Form - ITR Filing

ITR Form for FY17-18, AY18-19

With effect from 5th April 2018, IT Department has issued a series of new online income tax payment forms for filing Income Tax Returns. There are six income tax return filing forms that are applicable to different types of assesses and different income types.

ITR Filing - FY17- 18, AY18 – 19

ITR Form to be Used Income Source Caution
ITR-1 (Sahaj) for salaried employees, HUFs and Individuals having net worth up to Rs.50 lakhs and dividend income upto Rs. 10 lakh
  • Income from salary, pension
  • Other income such as interest
  • Income from only one house property
  • Income from other sources should not include income from lottery and income from horse race.
  • Income from house property should be exclusive of loss that is brought forward from previous year
  • Cannot be used in case of income from capital gains or business or profession or if income from agriculture exceeds Rs. 5,000 or if one has to claim double taxation relief
ITR-2 For individuals and HUFs not carrying out business or profession under any proprietorship
  • Income from salary, pension
  • Other income such as interest
  • Income from not more than one house property
  • Income from capital gains
  • HUFs, individuals who donot have income from profits and gains of business or profession
  • NRIs have to file ITR-2
  • Cannot be used in case of income from proprietorship firm
ITR-3 For individuals and HUFs
  • Income from proprietary business or profession
  • Income from salary/ pension
  • Business income where income is computed on a presumptive basis under section 44AD and 44AE
ITR-4 (Sugam) - Presumptive income tax form for HUFs and individuals
  • Income from Profession where income is computed under section 44DA
  • Income from not more than one house property
  • Income from other sources
  • Turnover must not exceed Rs. 2 crore in case of businessmen and Rs. 50 lakhs in case of professionals
  • For truckers, must not own more than 10 trucks
ITR-5 Income from firms, Limited Liability Partnerships (LLPs), Association of Persons (AOP)
ITR-6 Income of companies Not for companies which have held property for charitable or religious purpose

ITR Forms for E-filing of Income Tax Return for AY 2018-19 (FY 2017-18)

The Central Board of Direct Tax (CBDT) through the Income Tax Department has notified new and simplified ITR forms for filing income tax return for FY18. Please note the following points:

  • Six New ITR Forms : Department has released 6 ITR forms as applicable for different types of assesses and different income types.
  • E-Filing of Income Tax Return mandatory : ITR has to mandatorily be filed using E-filing facility only. The E- filing facility has been enabled from 1st April, 2017 on income tax website: The last date of filing ITR is 31st July, 2018.
  • Very few exemptions on ITR filing : CBDT has allowed following taxpayers to fill ITR Form-1 (Sahaj) and ITR Form-4 (Sugam) in paper form:
    • An individual with age of 80 years or above at any time during the last year
    • An individual or HUF whose income does not exceed Rs. 5 Lakh and who has not claimed any refund in the return of income
  • New ITR forms requires verification : The person signing the tax return is required to declare his capacity in which he is filing the tax return and that he is competent to prepare the return and verify it.
  • E-Filing of income tax return with reference to employee stock options : Employees will need valuation report for sale of unlisted shares to ensure correct reporting of capital gains or loss. Detailed break-up of such transactions is also asked in the new form.
  • Penalties for late E-tax filing : This year's budget announced penalties for late filing of ITR. As a result, the income-tax software may not allow assessees to file their returns unless they pay the penalty first. Relevant new rows have been added to the new ITR Form for details of tax filing delays. A fine of Rs 5,000 is to be paid if the tax return is filed after the due date (i.e., 31 July) and before 31 December of the subsequent FY. The fine payable would be Rs 10,000 if the tax return is filed after 31 December of the subsequent FY.

ITR Forms Details and Income Tax Return Filing

ITR-1 (Sahaj) : Sahaj (ITR Form 1) for salaried employees, individuals and HUFs is a simplified one page form. ITR 1 Form (Sahaj) can be filled by salaried employees, individuals and HUFs having total income up to Rs. 50 lakhs and hold one house property. The new ITR Form-1 contains separate field for salary details in break up format where taxpayers first need to fill up salary amount excluding allowances, perquisites, etc. Then, provide details pertaining to perquisites, allowances, profit in lieu of salary, etc. and deductions claimed under section 16. Also, income from House Property and from Capital Gains will have to be mentioned seperately, and so will be the details of exemption under Sections 54, 54B, 54EC, 54EE, 54F, 54GB and 115F

ITR-2 Form : As per the new rules, Non Resident Indians who were filing Sahaj form to file ITR, will now have to use ITR Form – 2 to file returns.

  • The new ITR-2 form can also be used by individuals and Hindu Undivided Families (HUFs) who do not have any business or professional income.
  • The new ITR-2 form seeks details of taxing any sum of money or property received (in excess of Rs 50,000) in line with the new clause introduced by Finance Act 2017.
  • The new ITR-2 form makes it mandatory for tax payers to furnish the PAN of the tenant while providing details of income from house property, if any. This was optional until last year.

ITR-3 : Individuals engaged in business or profession will now be required to file ITR-3, as against last year, wherein, a partner was allowed to file the return using ITR-2.

ITR-4 : It is meant for small businesses such as freelancers and shop owners and for professionals such as doctors, who will now be required to fill more than 4 details that were required in the earlier form. In addition to filing total creditor and debtors, total stock-in-trade, and cash balance, the new form will also require to fill financial details of the business such as the amount of secured and unsecured loans, advances, fixed assets, capital account and so on.

ITR-5 : ITR-5 has to be filed by firms, Limited Liability Partnerships (LLPs), Association of Persons (AOP) and Body of Individuals (BOI). There are no revisions in this form.

ITR-6 : ITR 6 is meant for businesses, and will require details about GST transactions. Businesses need to ensure that GST returns filed matches with details provided in the income tax form.

To know more about ITR forms and file ITR for FY 2017-18, visit the income tax E-filing website -

New ITR 1 Form (Sahaj) Details

The new ITR-1 has been introduced with many changes, making it a simplified one page form. It has five parts, which focus on more attention to detail and break up of all income sources. The new Sahaj Form has been explained below.

Part A- General Information
This section of ITR Form 1 includes the following information:

  • PAN (mandatory) of taxpayer
  • Aadhaar Number (mandatory) of taxpayer
  • Personal details of taxpayer such as name, address, mobile number, type of employment

Part B- Gross Total Income
This section of the form explains the details of the income earned during the year which includes the following:

Salary/ Income:

  • Salary
  • Allowances not exempt
  • Value of perquisites
  • Profit in lieu of salary
  • Deduction under Section 16

House Property

  • Gross Rent received
  • Tax Paid to local authorities
  • Interest payable on borrowed capital

Part –C -Income Tax Deductions as per Income Tax Act
Under this section of ITR Form 1, taxpayer can claim tax deductions as per Income Tax Act under following Sections:

  • Section 80C (deduction claimed against PPF, LIC premium, tuition fees, EPF with the maximum limit of deduction of amount Rs 1.5 lakh)
  • Section 80D (deduction claimed against medical insurance premium and health check up)
  • Section 80G (deduction claimed against donations of any recognized society)
  • Section 80TTA (deduction claimed against interest earned on savings account)

Part D- Computation of Tax payable
This section of the form includes the computation of amount of tax paid by taxpayer. Taxpayer is required to pay tax on his income at a marginal rate of interest as per Income Tax Slabs for FY 2016-17. In order to compute the tax liability following information is required to be provided:

  • Tax payable on total income as per Income Tax Slabs
  • Rebate under Section 87A
  • Cess
  • Relief under Section 89 (I)
  • Interest under Section 234A, 234B, 234C
  • Fees under Section 234F
  • Income exempt from tax
  • Agriculture Income

Part E- Other Information

  • Details of bank account such as IFSC code of bank branch, name of the bank, bank account number, cash deposits during the previous year if aggregate cash deposit during the period exceeds Rs. 2 lakh
  • Details of Advance Tax, Self Assessment Tax Payments
  • Information including BSR code date of deposit, serial number of Challan, amount of tax paid
  • Details of TDS and TCS (As per Form 16/ 16A/27D) issued by deductor/ employer/ collector
  • Information including TAN of deductor, name of deductor/ collector, amount which is subject to tax deduction, tax deduction/ collection year
  • Information Required to File ITR
  • PAN for all assessees
  • Aadhaar - mandatory for individual taxpayers. In case of non individual taxpayers, Aadhaar of authorized person filing the return is mandatory
  • Personal details such as name, address, mobile number, type of employment
  • Income from salary, house property, other sources (such as interest), capital gains, profession, agriculture
  • Deductions under chapter VI-A, chapter 10 and various sections such as 80C to 80U including 80D, 80G, 80TTA
  • Bank account details (for all accounts held in the name of the taxpayer) – Bank, branch, IFSC code, account number
  • Details of cash deposits of old demonetized notes of more than Rs. 2 lakhs made from 9th Nov to 31st Dec 2016
  • Advance tax paid, self assessment tax paid, TDS and TCS will be auto updated at the time of E-filing and need not be entered
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