Information about Income Tax E-Filling AY:2018-2019:- E filling income tax or electronic income tax filing is collecting online income tax returns. The earnings return tax is very convenient and absolutely free through the Income Tax E Filling Website. Due to its convenience and ease of use, income tax returns have increased in the last few years.
Anyone who earns or pays in India is the under the income tax. Income tax law binds both residents and non-residents. Even if there is a non-resident, he will have to pay income tax, provided that person earns income for payment in India. Apart from this, businesses like partnership firms, LLPs and companies are essentially required to file income tax returns despite the amount of income or profit.
www.incometaxindiaefiling.gov.in provides support to make income tax returns effectively through their platform. You can implement all types of income tax returns in India including ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 and ITR-7 in India. Depending on the criteria of income sources and Income Tax Unit (Individual, HUF, Firm, LLP, Company etc.), the type of income tax return form that you need to file will vary.
1] ITR-1 Forms:-
If you meet the criteria below, you can file using the ITR-1 form:
The source of income is limited to:
- Salary / pension
- Only income from a house property
- Income from other sources (excluding income from lottery and income from race horses)
- Your annual income is less than 50 lakhs.
- You do not have any agricultural income which is more than ₹ 5,000.
- You do not have any foreign assets.
- You have no income from business or profession.
- You don’t have any taxable capital gains.
2] ITR-2 Form:-
If you meet the criteria below, you can file using the ITR-2 form:
The source of income is limited to:
- Pay / Pension
- Capital gain
- Income from House Property (any number)
- Foreign Assets / Foreign Income
- Other sources (including income from the lottery and income from race horses).
- Income more than 5,000 agricultural income
- In addition, if your income exceeds 50 lakhs then the ITR-2 form can be used to register your return.
- Learn more about filling or starting income tax return ITR-2 form.
- Income of a person as a participant in the firm (income from the proprietary business should be filed through ITR-3)
3] ITR-3 form:-
If you are filing as an individual or as HUF (Hindu Undivided Family) and meet the criteria below.
- Income from other sources mentioned in ITR-2 can also be included with proprietary business or from profession to income
- Revenue from moving from occupation to business or profession
You can submit your ITR-3 form either online or offline. Only the following person can file an offline refund
- Individuals who are 80 years of age or older.
- Those individuals whose income is less than Rs 5 lakh and do not claim reimbursement on income tax return.
4] ITR-4 form:-
If you meet the following criteria, you can complete the Income Tax ITR-4 Form E-filing. You can either submit your ITR-4 form online or offline.
- If the business of the mentioned business is within ₹ 2 crores If the business is more than 2 crores, then it is necessary to use the ITR-3 form
- Income from the proprietary business or occupation under the estimated income scheme according to Section 44 AD, Section 44AdA and Section 44AE of the Income Tax Act.
Who Can File ITR 4 Form?
ITR4 can be filed by all those who opt for the estimated income for example-
- Freelancers engaged in the above profession can also choose this scheme if their gross receipts are not more than Rs. 50 lakhs.
- A Doctor can choose an estimated income plan of 44 ADA if his gross receipt is not more than Rs 50 lakh and 50% of the gross receipts can be declared as his income. An engineer can also select this plan.
- Individuals engaged in the accountancy profession, internal decoration, technical consultation can also do this for the scheme.
- Film artist
- A small businessman, who is doing business at less than Rs 2 crore, can choose the scheme of 44AD and can declare profits on 8% of gross receipts. (6% in case of digital receipts)
5] ITR-5 form:-
If you meet the criteria below, you can file using the ITR-5 form:
- You do not need to file a return of income under Section 139 (4A) or 139 (4b) or 139 (4C) or 139 (4D), i.e. charitable and religious trust, this matter ITR-7 is to be used in
- You are from a profession, limited liability partnership (LLP), Association of Person (AOP) or Body of Individual (BOI) income from a business owned by income or Section 44 AD, Section 44 ADA, according to the projected income plan. , Section 44AE of the Income Tax Act.
6] ITR-6 Form:-
If you meet the criteria below, you can file using the ITR-6 form:
- You are filing income tax return for a company and you are not claiming exemption under section 11. Companies claiming exemption under section 11 is those whose income is from a property to charity or religious purpose.
7] ITR-7 Form:-
If you meet the criteria below, you can file using the ITR-7 form:
You are filing under Section 139 (4A) or 139 (4B) or 139 (4C) or 139 (4D) i.e. Religious Trust & Charitable Trust.
- Returns under section 139 (4B) should be filed by a political party if the total income is not more than the maximum amount, without affecting the provisions of Section 139A, which is not applicable for income tax.
- Returns under Section 139 (4C) should be filed by each.
- Returns under Section 139 (4A) requires the receipt of income from property acquired for the sole purpose of charitable or religious purposes, or for just a few purposes, for each person by trust or other legal obligations.
Scientific research association
Fund or institution or university or other educational institution or any hospital or other medical institution.
Institution specified in section 10 (23b)
The association or institution is specified in section 10 (23A)
- Returns under Section 139 (4D) are to be filed by every University, College or other institution, which does not require the return of income or loss under any other provision of this section.
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