In the below article we will discuss the Applicability of ITR 1 ,2,3, 4, 4S, 5, 6 and 7 for Assessment year 2013-14 i.e. FY 2012-13. In other words which ITR is applicable to whom for A.Y. 2013-14.

APPLICABILITY OF ITR-1 FOR ASSESSMENT YEAR 2013-14 /FINANCIAL YEAR 2012-13

1.   Who can use this Return Form

This Return Form is to be used by an individual whose total income for the assessment year 2013-14 includes:‑

(a)    Income from Salary/ Pension; or

(b)     Income from One House Property (excluding cases where loss is brought forward from previous years); or

(c) Income from Other Sources (excluding Winning from Lottery and Income from Race Horses)

NOTE Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only if the income being clubbed falls into the above income categories.

2. Who cannot use this Return Form

This Return Form should not be used by an individual whose total income for the assessment year 2013-14 includes:‑

(a) Income from more than one house property; or

(b) Income from Winnings from lottery or income from Race horses; or

(c) Income under the head “Capital Gains” E.g., short-term capital gains or long-term capital gains from sale of house, plot, shares etc.; or

(d) Income from agriculture/exempt income in excess of Rs. 5,000; or

(e) Income from Business or Profession; or

(f) Loss under the head ‘Income from other sources’; or

(g) Person claiming relief of foreign tax paid under section 90, 90A or 91; or

(h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India.

APPLICABILITY OF ITR-2 FOR ASSESSMENT YEAR 2013-14 / FINANCIAL YEAR 2012-13

1.     Who can use this Return Form?

This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 201 3-14 includes:-

(a)     Income from Salary / Pension; or

(b)     Income from House Property; or

(c)      Income from Capital Gains; or

(d)     Income from Other Sources (including Winning from Lottery and Income from Race Horses). Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.

2.     Who cannot use this Return Form?

This Return Form should not be used by an individual whose total income for the assessment year 2013-14 includes Income from Business or Profession.

APPLICABILITY OF ITR-3 FOR ASSESSMENT YEAR 2013-14 / FINANCIAL YEAR 2012-13

1.     Who can use this Return Form?

This Return Form is to be used by an individual or an Hindu Undivided Family who is a partner in a firm and where income chargeable to income-tax under the head “Profits or gains of business or profession” does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from such firm. In case a partner in the firm does not have any income from the firm by way of interest, salary, etc. and has only exempt income by way of share in the profit of the firm, he shall use this form only and not Form ITR-2.

2.     Who cannot use this Return Form?

This Return Form should not be used by an individual whose total income for the assessment year 2013-14 includes Income from Business or Profession under any proprietorship.

APPLICABILITY OF ITR- 4 FOR ASSESSMENT YEAR 2013-14 /FINANCIAL YEAR 2012-13

Who can use this Return Form?

This Return Form is to be used by an individual or a Hindu Undivided Family who is carrying out a proprietary business or profession.

APPLICABILITY OF SUGAM (ITR-4S) FOR ASSESSMENT YEAR 2013-14 /FINANCIAL YEAR 2012-13

1.   Who can use this Return Form

This Return Form is to be used by an individual / HUF whose total income for the assessment year 2013-14 includes:‑

(a)    Business income where such income is computed in accordance with special provisions referred to in section 44AD and 44AE of the Act for computation of business income; or

(b)      Income from Salary/ Pension; or

(c)    Income from One House Property (excluding cases where loss is brought forward from previous years); or

(d)    Income from Other Sources (Excluding winning from Lottery and Income from Race Horses).

Note: The income computed shall be presumed to have been computed after giving full effect to every loss, allowance, depreciation or deduction under the Income-tax Act.

Note: Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only if the income being clubbed falls into the above income categories.

2. Who cannot use this Return Form

SUGAM cannot be used to file the following incomes

(a)    Income from more than one house property; or

(b)    Income from winnings from lottery or income from Race horses; or

(c) Income under the head “Capital Gains”, e.g. Short-term capital gains or long-term capital gains from sale of house, plot, shares etc; or

(d)    Income from agriculture/exempt income in excess of Rs. 5,000; or

(e) Income from Speculative Business and other special incomes; or

(f)   Income from a profession as referred to in sub-section (1) of section 44AA or income from an agency business or income in the nature of commission for brokerage; or

(g)    Person claiming relief of foreign tax paid under section 90,90A or 91; or

(h)    Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India.

3. SUGAM form is not mandatory

SUGAM Business Form shall not apply at the option of the assessee, if –

(1) the assessee keeps and maintains all the books of account and other documents referred to in section 44AA in respect of the business.

(ii) the assessee gets his accounts audited and obtains a report of such audit as required under section 44AB in respect of the business.

In the above scenarios, Regular ITR-4 should be filed and not SUGAM.

APPLICABILITY OF ITR- 5 FOR ASSESSMENT YEAR 2013-14 /FINANCIAL YEAR 2012-13

Who can use this Return Form?

This Form can be used a person being a firm, LLPs, AOP, BOI, artificial juridical person referred to in section 2(31 )(vii), cooperative society and local authority. However, a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) shall not use this form.

APPLICABILITY OF ITR- 6 FOR ASSESSMENT YEAR 2013-14 /FINANCIAL YEAR 2012-13

Who can use this Return Form?
This Form can be used by a company, other than a company claiming exemption under section 11.

APPLICABILITY OF ITR- 7 FOR ASSESSMENT YEAR 2013-14 /FINANCIAL YEAR 2012-13

Who can use this Return Form?

This Form can be used by persons including companies who are required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D).

(Article been further updated on 14.07.2013 after its first publication on 04.05.2013.)

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0 responses to “Which ITR should be used & by whom for A.Y. 2013-14?”

  1. Sunil kumawat says:

    Sir very mostly information given in these blogs

  2. Rahul says:

    Sir

    Just want to know that I am salaried employee having taxable income more than 500000/- and also claim deductions like HRA, Conveyance, and 80 C, and 80 D, Kindly let me know which ITR return to be filed whether ITR 1 or ITR 2

  3. sai kumar says:

    I have for an individual presumptive taxation and also agricultural income which exceeds rs 5000 which form I should use to file in manually for the ay 2010-11 please reply me … with regards k.saikumar

  4. K Venu says:

    I am having Salary and interest gained from Fixed deposits about Rs. 12575, but in this TDS deducted Rs.189. Can i eligible for exemption of Rs.5000? If eligible, How much i have to show in the Interest gained. In this situation which return I have to file?

    • K K SARAOGI says:

      Dear Mr. K Venu,

      Interest on fixed deposits is not exempt. Interest on savings bank deposits (not being time deposits)is eligible for deduction upto Rs.10,000/- under section 80TTA of the Income-tax Act.

  5. rahul says:

    wanted to check in case the PPF interest is more than 5000 rs and travel allowance is also greater than 5000 along with HRA, then do we have to use ITR 2 compulsoraliy…?? Please respond.

    • K K SARAOGI says:

      Dear Mr. Rahul,

      Unless there is any clarification from CBDT, Form ITR-2 should be used if exempt income is more than Rs.5,000 which has not been considered in Form 16. For example, dividend, maturity amount of LIC, withdrawal from PPF, interest exempt under Govt. bonds, receipt of accumulated balance from RPF, commuted value under superannuation scheme etc. Any payment received from public provident fund is exempt u/s 10(11), hence there is no need to consider interest separately.

  6. K K SARAWAGI says:

    You have stated that form ITR-1 cannot be used if exempt income is in excess of Rs.5,000/-. Please inform if ITR-1 cannot be used if an individual is in receipt of conveyance allowance of Rs.800/- p.m. which is exempt u/s 10(14). Please also inform under which specific I.T.Rules/ CBDT circular the use of ITR-1 form cannot be made.
    An individual having only salary income and Income from other sources i.e interest etc. with total income of more than Rs.5 Lacs but less than Rs. 10 Lacs is required to file online return. Hence it is essential for him to know whether he can file return in ITR-1 or 2 in the above circumstances.

  7. Jacintha says:

    Please advise if the interest on PPF is exempt income. If yes, if its more than Rs 5000, do we use ITR 2?

  8. D.Krishnasamy says:

    Valuable information at this month.Thanks

  9. CA. Subhash Chandra Podder, says:

    GOOD WRITE UP. THANKS
    CA. SUBHASH CHANDRA PODDER,FCA
    15/7/2013

  10. Gangappa says:

    Thanks for the information. What is exempt income?

  11. Poornima S Talwar says:

    The ‘OR’ used three times in rule applicable for filing ITR in Form 1 creates confusion for the individual having income from Salary as well as income from one house property as well as interest income.

    Can he use Form 1 despite the word ‘OR’ used in the relevant rule.

  12. SUHASINI says:

    i have one doubt that is if an individual who has Business income where such income is computed in accordance with special provisions referred to in section 44AD and 44AE of the Act for computation of business income; And

    (a) Income from more than one house property; or

    (b) Income from winnings from lottery or income from Race horses; or

    (c) Income under the head “Capital Gains”, e.g. Short-term capital gains or long-term capital gains from sale of house, plot, shares etc; or

    (d) Income from agriculture/exempt income in excess of Rs. 5,000; or

    (e) Income from Speculative Business and other special incomes; or

    (f) Income from a profession as referred to in sub-section (1) of section 44AA or income from an agency business or income in the nature of commission for brokerage; or

    (g) Person claiming relief of foreign tax paid under section 90,90A or 91; or

    (h) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India.

    in this situation which return he has to file?

  13. Amit says:

    thank you very much for the important information.

  14. DEBASIS ADAK says:

    It will be very useful for us, thanks.

  15. Anil Kishore says:

    If you explain all the items of exempt income which comes in Rs5000/- then it will be useful. Various type of income are exempt to employees like transport allowance, LTC, whether all this will also come under exempt income or only dividend, Agricultural income will come under this column of ITR 1

  16. NARESH AGRAWAL TAX ADV says:

    thanks for important information

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