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

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.

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.

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
Categories: Income Tax

View Comments (8)

  • income from compulsary acquisitation of land by goverment on which tds has been deducted and this income is exempt in which ITR APPLICABLE and whre to show

  • Sir, I have sold a vacant house plot of 4904 sq.ft which was purchased for Rs. 37,000/- during 1992 and now (April2018) sold for Rs.15 Lakhs( under distrus sale) whereas the the sale registration done for the Govt. Guide line of Rs. 32,85,680/-
    The reason for the distrus sale was due to the occupation of TNEB, 230KV O/H Transmission Tower for which I have received a small compensation of Rs. 77,670/- after a court vertict. Please guide me for the capital gain tax procedure and whether I have to Tax file now itself or next year 2019-20

  • Im confused as to whether to file ITR 3 or ITR 4 as once I opt for ITR4, I will have to continue it for 5 years. Im a doctor by profession and whatever ITR , I would file my declared income would be about 60% of my gross receipts.

    Kindly guide me as regards the advantages and disadvantages for ITR3 and ITR4

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