Understanding ITR Forms for AY 2020-21 (AY 2019-20)

Sometimes it is difficult to identify which ITR to be filed for AY 2020-21. Below list will provide you clear details which ITR is applicable in your case. You can select relevant ITR in your case . ITR utilities are available in Income e-filing website in excel and JAVA format .

Form Description (Applicability of relevant ITR form)
ITR 1 For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)
ITR 2 For Individuals and HUFs not having income from profits and gains of business or profession
ITR 3 For individuals and HUFs having income from profits and gains of business or profession
ITR 4 For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE
(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)
ITR 5 For persons other than:-
(i) Individual,
(ii) HUF,
(iii) Company and
(iv) Person filing Form ITR-7
ITR 6 For Companies other than companies claiming exemption under section 11
ITR 7 For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D)

Hope above list is helpful for you.

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  • CA. Kalpesh Karia

    CA. Kalpesh Karia is a Fellow Chartered Accountant . He founded and developed this blog ' FinanceFriend.in ' in 2012. He regularly posts articles related to finance and taxation on his blog. As the name suggests, he is trying to be a Finance Friend and wants to give back to society what he has learned over the years. He shares knowledge based on his 18 years of experiences in areas like Finance, Accounts, Taxation, Forex & Treasury , Wealth Management & Financial Planning, Costing, SAP and Digital Transformation .

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