Who can use ITR 1, ITR 2, ITR 3 and ITR 4 Sugam for A.Y. 2018-19

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Article discusses who can use ITR 1 (SAHAJ), ITR 2, ITR 3  and ITR 4 Sugam Form for Assessment Year 2018-19 or Say Financial Year 2017-18.

Contents

Who can use ITR 1 (SAHAJ) for Assessment Year 2018-19 or Financial Year 2017-18?

• Income from Salary/Pension
• Income from 1 house property (except those cases where loss is carried forward from previous year
• Income from other sources( except income from lottery, winning from race horses, etc)
• Total income <= Rs.50 lakhs.
• No income from Capital Gains.
• Agricultural income <=Rs.5,000/-
• No Income from Business or Profession
• No income from outside India

Who can use ITR 2 for Assessment Year 2018-19 or Financial Year 2017-18?

• Income from Salary/Pension
• Income from more than 1 house property
• Income from Capital Gains
• Income from Other Sources (including winnings from lottery and income from race horses)
• Agricultural income of more than Rs 5,000
• Income from outside India or having asset abroad
• No Income from Business or Profession

Who can use ITR 3 for Assessment Year 2018-19 or Financial Year 2017-18?

• Individuals & HUFs, who are having proprietary business, profession or having income as a partner in a Partnership firm, can file this return form.
• Earlier this form was named as ITR 4
• Income from Salary/Pension
• Income from more than 1 house property
• Income from Other Sources (including winnings from lottery and income from race horses)

Who can use ITR 4 Sugam Form for Assessment Year 2018-19 or Financial Year 2017-18?

• This form can be used by an individual/ HUF/ Partnership firm who show their income under presumptive scheme u/s 44AD, 44ADA & 44AE
• Agricultural income <=Rs.5,000/-
• No income from Speculative Business and other special incomes
• No income from an agency business or income in the nature of commission or brokerage
• Income from Salary/Pension
• Income from 1 house property (except those cases where loss is carried forward from previous year
• Income from other sources( except income from lottery, winning from race horses, etc)
• No asset outside India
• No income from abroad