AY -2022-2023, New Indian Income Tax Returns Form Applicability to Different types of ‘Persons‘
CBDT Notified New Indian Income Tax Returns forms for the AY -2022-23 Relevant to the Previous year 2021-2022 Respectively.
These rules may be called the Income-tax (fourth Amendment) Rules, 2022. These rules shall come into force with effect from the 1st day of April, 2022.
Which Indian Income Tax Form Available to which “Persons or Assessee”
| Income Tax Return Forms Type | “Who” can be cover as per limits or different types of Income | Assessment Year |
| ITR-1 SAHAJ | For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh,
> Having Income from Salaries, > One house property > Other sources (Interest etc.), and > Agricultural income upto Rs.5,000/- Such form Not available to — > For an individual who is either Director in a company > He has invested in unlisted equity shares > In the cases where TDS has been deducted u/s 194N or if income-tax is deferred on ESOP |
2022-2023 |
| ITR-2
|
For Individuals and HUFs not having income from profits and gains of business or profession
You can declare Under this form you can file your Capital Gain, Income from House property of more than one House, Other source of Income, Income from salaries etc. |
2022-2023 |
| ITR-3 | For individuals and HUFs having income from profits and gains of business or profession | 2022-2023 |
| ITR-4 SUGAM | For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh
And having income from business and profession which is computed under sections 44AD, 44ADA or 44AE. Such form Not available to — > Not for an individual who is either Director in a company > He has invested in unlisted equity shares > If income-tax is deferred on ESOP or has agricultural income more than Rs.5000. |
2022-2023 |
| ITR-5 | For persons
Other than- (i) Individual, (ii) HUF, (iii) Company (iv) Person filing Form ITR-7 This form Available to following Persons Partnership Firm, LLP, local authority ,AOP/BOI , other cooperative bank, other cooperative society, society registered under society registration Act, 1860 or any other Law, Primary agricultural credit society/cooperative bank, Rural development bank, Business trust, investment fund, Trust other than trust eligible to file Return in ITR 7, any other AOP/BOI, artificial juridical, Estate of the deceased, Estate of the insolvent, Other AJP |
2022-2023 |
| ITR-6 | For Companies other than companies claiming exemption under section 11 | 2022-2023 |
| ITR-7 | This form Available for those who fall under section 139(4A) or section 139 (4B) or section 139 (4C) or section 139 4(D). | Not Notify |
Author Bio
Excellent & Crisp article with sufficient information.
I have tax free pension from army for disability, which online itr form should be used for ay2022-2023. Till now it was easy using itr1 for previous years.where do i show exempt salary income. Please advise. I will be grateful for your guidance.regards
Shares of delisted companies are considered as unlisted shares. They are in demat format and there are no means of selling them either. In my case the DP Account fees is 600 per annum and such delisted shares, which can neither be sold, is reflected as 120 – purchase price was 2680/-.
JUST FOR THIS SAKE I DO NOT WANT TO BE PAYING 600/- PER ANNUM. ICA’T SELL IT TOO. BECAUSE OF THIS I HAVE TO FILE ITR-2. OTHERWISE I CAN FILE ITR-1.
ANY SOLUTIONS?
Dear Sir,
If we have F&O income and capital gains, which ITR is applicable?