Income-Tax Return

ITR - Know what is meant by ITR filing and how to download ITR Forms & file IT returns online. Check Documents requirements, last date to pay and Penalty for Late Filing.

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An income tax return is proof of a person about income earned during the financial year. ITR is filed in various types of forms applicable at the persons to the income tax department.



The following category of individuals will file ITR-1

  • Salary/pension income
  • Income earned from other sources
  • Agriculture income less than RS 5000.

If a person's annual income is more than RS 50 lakh or owns Foreign Assets, or has an Agriculture income of more than RS 5000, or if income from a business or profession, then that person will not file ITR-1,

ITR-2 :-

The following category of individuals will file ITR-2

  • Income more than RS 50 Lakh
  • Agriculture income of more than RS 5000
  • A person already a director in the company
  • Income earned from salary/pension/house property/lottery/horserace/capital gain/foreign income.

ITR-3 :-

The following category of individual/HUF will file ITR-3

  • Income earned from business or profession
  • An individual already a director in the company
  • Income earned from partnership firm
  • Income from house property/salary/pension/other sources.

ITR-4 :-

ITR-4 is also known as a presumptive income scheme.

Following category of individual/HUF/partnership firm will file ITR-4

  • If the assessee chooses a presumptive income scheme under 44AD, 44ADA, or 44AE.
  • If income pertains to business and profession
  • If turnover is not more than Rs. 2 crore


The following category of persons will file ITR-5

  • Body of individual
  • Firm
  • Co-operative society
  • LLP
  • AOP
  • Local Authorities
  • Artificial judicial persons
  • Investment fund
  • Business trust.

ITR-6 : -

This form can only be filed by the company (except those companies who claim benefit under section 11)

Under Section-11:  those companies whose income only pertains to charitable and religious purposes.

ITR-7: -

If a person falls in the following section under the income tax act, then that person will file ITR-7.

  • Section 139(4A):- individuals who hold the property for religious or charitable purposes.
  • Section 139(4B) :- any political party
  • Section 139(4C):- associations or institutions falls under sec. 10(23A) and 10(23B) News agencies, educational institutions, medical institutions, and scientific research agencies.
  • Section 139(4D):- other institutions, colleges, and universities that are not required to file a return of income under any other provision of this section.

Due Dates For Filing Of ITR

  • Individuals whose accounts are not required to be audited = 31st July 2023
  • Individuals whose accounts are required tax audited = 30th September 2023
  • In case of independent audit = 31st Oct. 2023
  • (whose accounts are audited under any other act)

Penalty for non-filing ITR

  • In case of taxpayers where total income is below Rs 5 lakh, then late fees will be under section 234F RS 1000,
  • For taxpayers with more than Rs 5 lakh, late fees will be under section 234F RS 5000 up to 31st December 2023, and after 31st December, late fees will be RS 10000.
  • 1% interest also pay for the month or part of the month under section 234A.