Which ITR form should a salaried employee use?

ITR-1 (Sahaj): for resident individuals with salary income, one house property, and other sources (interest etc.) with total income up to Rs 50 lakh. Not applicable if you have capital gains, foreign assets, or business income.

Who should use ITR-4 Sugam?

ITR-4: for individuals, HUFs, and firms (not LLPs) with income under presumptive taxation schemes: Section 44AD (business turnover up to Rs 2 crore), 44ADA (professionals up to Rs 50 lakh), or 44AE (transport vehicles). Income must not exceed Rs 50 lakh.

What is the penalty for late ITR filing?

Late filing fee: Rs 5,000 if filed after the due date (July 31). Reduced to Rs 1,000 for income below Rs 5 lakh. Belated return can be filed until December 31 of the assessment year. After that, only a revised return with AO approval is possible.

India ITR Form Selection and Filing Guide Calculator

Determine the correct ITR form: ITR-1 (salaried, one house, income under ₹50L), ITR-2 (no business income, capital gains), ITR-3 (business/profession), ITR-4 Sugam (presumptive scheme), ITR-5 (firms), ITR-6 (companies).

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Frequently Asked Questions

Which ITR form should a salaried employee use?

Who should use ITR-4 Sugam?

What is the penalty for late ITR filing?