ITR2Doc Logo

Understanding ITR Forms

Tax Expert
Tax Expert

Income Tax Returns (ITR) are essential for reporting income, claiming deductions, and fulfilling your legal obligations as a taxpayer in India.

There are different ITR forms based on your income type:

  • ITR 1 (Sahaj): For salaried individuals earning up to ₹50 lakh, including one house property and other income (interest, etc.).
  • ITR 2: For individuals/HUFs with income from capital gains, more than one house property, or foreign assets.
  • ITR 3: For individuals/HUFs having income from business/profession.
  • ITR 4 (Sugam): For presumptive income under Section 44AD/ADA/AE for individuals, HUFs, and firms (not LLPs).

Choosing the correct form ensures accurate processing and reduces the risk of penalties or notices.

📌 Tip: Use Form 26AS and AIS to cross-check your tax credits before filing.