Following are the various income tax forms and their applicability:
• ITR-1: Also known as SAHAJ, it is applicable to individuals having salary income, pension income, income from house property or income from other sources.
• ITR-2: It is applicable to individuals and HUF not having income chargeable under the head PGBP
• ITR-3: It is applicable to individuals and HUF whose any income is chargeable under the head PGBP
• ITR-4: Also known as SUGAM, it is applicable to individuals, HUF or partnership firms opting for presumptive taxation scheme under section 44AD/44ADA/44AE
• ITR-5: It is applicable to AOP, BOI, LLP, co-operative society, local authority or artificial juridical person
• ITR-6: It is applicable to companies (other than one claiming exemption under section 11)
• ITR-7: It is applicable to persons including companies filing returns as per section 139(4A), 139(4B), 139(4C) or 139(4D) (i.e., political parties, colleges, trusts, institutions).