Income Tax Return Form | Which ITR Form to Fill for AY 2019-20

Income Tax Return Form

 

Income Tax Return Forms ( ITR 1 to ITR 7)

As per IT Act 1961, individuals should file an ITR under section 139(1) within the due date. Generally, the last date of submission of a return is the following 31st July after completion of the financial year. The assessment year is 2019-20 for the earnings during the financial year 2018-19. Hence, you need to file your return in a specified ITR form before 31st July 2019 for the income from 1st April 2018 to 31st March 2019.

Income tax return forms or ITR forms are categorized in seven different forms. These are ITR1, ITR2, ITR3, ITR4, ITR5, ITR6 and ITR7. When you initiate to file your ITR, the first and foremost thing you have to do is to choose your ITR form accordingly.

The below guide will help you to select the proper forms from ITR 1 to ITR 7.

Which ITR Form to Fill for AY 2019-20

Now, here is a brief description for each of the ITR forms that will tell you for whom it is actually applicable.

ITR-1

ITR Form 1 is applicable to those whose total annual income does not exceed to Rs 5000000. And who earn their income by means of

  • i) salary, wages or pension.
  • ii) other sources like interest from SB or FD.
  • iii) income from house property (not more than one). 

In a brief, if you are a salaried person having total income less than 50 lakh, you need to file ITR 1.

ITR-2

ITR Form 2 applicable to when your income from salary or pension or wages exceeds rupees 50 lakh. It is also applicable to if you possess house property more than one and earn from those. Besides, to show your capital gains or losses, you need to file ITR 2.

ITR-3

ITR Form 3 applicable to taxpayers who earned from business or profession or partnership in the form of salary,  commission, bonus, remuneration, interest, etc.

ITR-4

Income Tax Return Form ITR 4 is used by the individual having income from business and profession with an income of no limit.

ITR-5

You need to file ITR 5 if you are one of the following categories

  • Firms
  • Limited Liability Partnerships (LLPs)
  • Body of Individuals
  • Association of Persons (AOPs)
  • Co-operative Societies
  • Artificial Judicial Persons
  • Local Authorities

ITR-6

Companies, other than companies claiming an exemption under Sec. 11 use form ITR 6 to file their income tax return.

ITR-7


You have to file ITR 7 if you are a Person or even companies who require to furnish return under Section 139(4A); Section 139(4B); Section 139(4C); or Section 139(4D).

Hope this information will be beneficial to you while you going to file your income tax return online. For your further queries regarding Income Tax Return, you visit FAQ section or comment in the comment box for a quick reply. Thanks for reading.

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