How to File Income Tax Return and What is ITR Forms for Income Tax Filing for AY 2016-17.

ITR Forms have been released by the Income Tax Department for Financial Year 2015-16 i.e. Assessment Year 2016-17. Income Tax Department released Total 7 ITR forms for Tax Payers. We will Discuss briefly about ITR Forms below.

Each type of ITR Form is in 3 Formats –

• Excel Utility
• Java Utility 
• PDF File. 

Taxpayers opting for Online Filing are requested to use the Java Utility or the Excel Utility and taxpayers opting for Physical Filing of ITR shall download and print the PDF File and physically submit the same after completing all relevant particulars.

Who will file ITR Forms through Online?

               All taxpayers having income more than Rs. 5 Lakhs are now mandatorily required to submit their income tax form online. Those taxpayers with income below Rs. 5 Lakhs can either submit their income tax form online or can submit the physical forms as well.
              In case the taxpayer is filing the Income Tax Returns online without using Digital Signature, the taxpayer shall take a print of ITR-V, duly sign the same and send to the following address within 120 days of filing the Income Tax Return Online by ordinary post to:-

“Post Bag No. 1, Electronic City Office, Bangalore – 560100, Karnataka”

How to Upload ITR Forms. 

              After Generating XML file and save in desired path/destination in your desktop/system. Then LOGIN to e-Filing application and GO TO --> e-File --> Upload Return, Select the Income Tax Return Form and the Assessment Year, then Browse and Select the XML file Upload Digital Signature Certificate, if available and applicable. Click 'SUBMIT'. On successful upload, Acknowledgement details would be displayed. Click on the link to view or generate a printout of Acknowledgement/ITR-V Form.

Foe more information about uploading Return, go to http://incometaxindiaefiling.gov.in/-----> select Learn How to e file.

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Income Tax ITR Forms Flow Charts-PDF, Images

 

ITR-1(SAHAJ)

Who can use this Return Form

Who cannot use this Return Form

This Return Form is to be used by an individual whose total income for the assessment year 2016-17 includes:- Income from Salary/ Pension; or Income from One House Property (excluding cases where loss is brought forward from previous years); or Income from Other Sources (excluding Winning from Lottery and Income from Race Horses) NOTE: Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only if the income being clubbed falls into the above income categories.

This Return Form should not be used by an individual whose total income for the assessment year 2016-17includes - ·         Resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India. If you have foreign assets, you cannot use ITR1. ·         If you have exempt income which is more than Rs. 5,000, you cannot use ITR-1.

• Download Form:Income Tax (ITR Forms) Downloads

ITR-2A

Who can use this Return Form

Who cannot use this Return Form

This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2016-17 includes:- Income from Salary / Pension; or Income from House Property; or Income from Other Sources (including Winning from Lottery and Income from Race Horses). Note: Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories

This Return ITR Form should not be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2016-17 includes:- Income from Capital Gains Income from Business or Profession Any claim of relief/deduction under section 90, 90A or 91 Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India Any resident having income from any source outside India.

•  Download Form:Income Tax (ITR Forms) Downloads

ITR-2

Who can use this Return Form

Who cannot use this Return Form

This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2016-17 includes:- Income from Salary/Pension; or Income from House Property; or Income from Capital Gains; or Income from Other Sources (including Winnings from Lottery and Income from Race Horses). Note: Further, in a case where the income of another person like one's spouse, child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.

This Return Form should not be used by an individual whose total income for the assessment year 2016-17 includes Income from Business or Profession or if you receive remuneration as a Partner in a Partnership Firm or LLP.

• Download Form:Income Tax (ITR Forms) Downloads

 

ITR-3

Who can use this Return Form

Who cannot use this Return Form

This Return Form is to be used by an individual or an Hindu Undivided Family who is a partner in a Partnership Firm or LLP and where income chargeable to income-tax under the head "Profits or gains of business or profession"  does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from such firm. In case a partner in the firm does not have any income from the firm by way of interest, salary, etc. and has only exempt income by way of share in the profit of the firm, he shall use this form only and not Form ITR-2.

This Return Form should not be used by an individual whose total income for the assessment year 2016-17 includes Income from Business or Profession under any proprietorship.

• Download Form:Income Tax (ITR Forms) Downloads

 

ITR-4S (SUGAM)

Who can use this Return Form

Who cannot use this Return Form

Income tax Return to be filed by individuals, HUF and small business taxpayers having: Presumptive Business Income(Sec. 44AD and 44AE). Income from Salary / Pension ·         One house property (excluding cases where loss is brought forward from previous years) ·         Income from other sources (excluding Winning from Lottery and Income from Race Horses). Note1: The income computed shall be presumed to have been computed after giving full  effect to every loss, allowance, depreciation or deduction under the Income-tax Act. Note2: Further, in a case where the income of another person like spouse, minor child, etc.  is to be clubbed with the income of the assessee, this Return Form can be used only if the  income being clubbed falls into the above income categories.

This ITR Form cannot be used if, taxpayer Has more than one house property Speculative income and other special Incomes. Agriculture income more than Rs 5000 Winning from lotteries/races horses Capital gains Losses to be carried forward. Income from a profession as referred to in sub-section (1) of section 44AA or income from an agency business or income in the nature of commission or brokerage; or Person claiming relief of foreign tax paid under section 90, 90A or 91; or Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India; or Any resident having income from any source outside India.

• Download Form:Income Tax (ITR Forms) Downloads 

ITR-4

This Return Form is to be used by an individual or a Hindu Undivided Family who is carrying out a proprietary business or profession.

• Download Form:Income Tax (ITR Forms) Downloads

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ITR-5

This Form can be used by a person being a firm, LLPs, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority. However, a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) shall not use this form. 

• Download Form:Income Tax (ITR Forms) Downloads

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ITR-6

This Form can be used by a company, other than a company claiming exemption under section 11 (Income from property held for charitable or religious purposes)

This return has to be filed electronically only under digital signature to the Income Tax Department. 

• Download Form:Income Tax (ITR Forms) Downloads

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ITR-7

This Form can be used by persons including companies who are required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) or section 139(4E) or section 139(4F).

• Return under section 139(4A) is required to be filed by every person in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or in part only for such purposes.
• Return under section 139(4B) is required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount which is not chargeable to income-tax.
• Return under section 139(4C) is required to be filed by every -
• scientific research association;
• news agency ;
• association or institution referred to in section 10(23A);
• institution referred to in section 10(23B);
• fund or institution or university or other educational institution or any hospital or other medical institution.
• Return under section 139(4D) is required to be filed by every university, college or other institution, which is not required to furnish return of income or loss under any other provision of this section.

•  Download Form:Income Tax (ITR Forms) Downloads

Electronic Filing of Returns

                                Electronic filing of income tax return is mandatory for the taxpayer if the total income is more than Rs. 5 lakh or if there is a claim of refund except for super senior citizen (Age above 80 years) or if ITRs 3, 4, 5, 6 or 7 have to be filed (Rule 12 (3) of the Income Tax Rules, 1962 as amended).

Details regarding how to file the income tax return is available at https://incometaxindiaefiling.gov.in/ -> Help tab -> 'How to e-file' and for any other queries on e-filing -> Please go to -> Help tab -> FAQ.

New functionality of electronic verification code (EVC) of the Income Tax return has been introduced vide Notification No. 2/2015, dated 13/07/2015. You can use this facility as an alternative for submission of ITR-V to CPC- Bangalore. To know further details on EVC, please visit www.incometaxindiaefiling.gov.in -> Help tab -> EVC user manual.

Download All Forms: Income Tax (ITR Forms) Downloads

More Information about Income Tax Filing :Welcome To efiling Website (Income Tax)

 Thank you friends next time we will meet in Income Tax Savings..........Bye....

--All the above contents only for Public reference and not for any other purpose. Therefore, I can not take any responsibility for the results or consequences of any attempt to use or adopt any of the information presented on this blog--- 

Thanks & Regards
S. Praveen Kumar Reddy.

 (source:http://www.incometaxindia.gov.in/Pages/default.aspx)