ITR 1, ITR 2, ITR 3 or ITR 4: Which form to select for income tax return?
After we discussed as to who can use ITR 1 in the article last week, let now see who can use ITR 2, ITR 3 and ITR 4. ITR 2 can be used by all those persons who are not eligible to use ITR 1 and their source of income does not have any business or professional income. Those who have dividend income and have borrowed money to make such investments can use ITR 2 if they wish to claim expenditure in respect of interest paid on money borrowed for purchasing such shares. You have to use ITR 3 if you are an individual or an HUF engaged in any business or profession, income and who are disqualified from using ITR 4. Likewise, if you have any income under the head “Capital gains” or “Income from other sources” other than interest and family pension or have income from source outside India, you cannot use ITR 4 and you have to use ITR 3 where you have option to offer your income on presumptive basis.
ITR Filing Starts: Expert Tips For Individual Taxpayers To Chose Correct ITR Form
ITR 2 form now available for individuals, HUFs; know details about filing return
Discover Related
Income Tax Returns: Over 9.19 crore ITRs filed till March 31, shows latest data
Govt Raises Extra Rs 9,118 Crore as 9 Million Taxpayers File Updated ITRs
How to file Income Tax Returns without a CA: A simple guide
Over 90 lakh updated tax returns filed, ₹9,118 crore additional taxes mobilised
Income tax: 90% or more taxpayers may shift to new regime, says CBDT chief on Budget
Do you need to file ITR if no income tax is payable?
Everything you need to know about India's new income tax proposal for middle class
ITR filing: Submit these investment proofs to claim deductions and save on TDS
ITR filing: 5 new tax regime features every taxpayer must know
ITR filing: Why you should declare foreign assets by January 15
ITR filing: Maximise tax savings for FY 2024-25. Check investment options
Top 10 income tax changes from 2024 to look out for while filing ITR in 2025
Income Tax: How to e-verify your return? 5 Key points to know
10 income tax changes in 2024: What you need to know for filing ITR in 2025
Centre mulls income tax cut in 2025-26 Budget amid middle-class heat
ITR filing: How the new tax regime impacts your taxes – 6 key things to know
Simplify ITR forms, bring ’one rate one section’ for TDS: Deloitte survey
Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official
Income tax department advises taxpayers to carefully review their foreign income, assets in ITR
The taxman knows about your foreign assets and is giving you a chance to revise ITR