prpri ITR forms applicable for Individuals for AY 2021-22 ITR forms applicable for Individuals for AY 2021-22

The Deadline for filing income tax return for the AY 2021-22 is extended to September 30, 2021.The following are forms applicable for an Individual who are required to file their returns for the Previous Year 2020-21 and

ITR-1 (Sahaj)- This form  is applicable for a Resident individual Having a total income upto ₹50 lakhs from the following

1. Salary

2. One house Property

3. Other Sources(Dividend, Interest income, Family pension income)

ITR-1 cannot be filed by a person

1. Who has Any Brought Forward Losses  or loss to be carried forward under any income

2. Who is a director in a company

3. Has Held Unlisted equity shares of a company at any point of time

4. has signing authority in any account(as director, Company secretary,  agent, officer or any legal power designated such person to sign any legal documents etc..,)located outside India

5. Has income from any source outside India

6. is a person whose tax has been deducted under section 194N(its deducted when Aggregate Cash withdrawals be it a single or multiple accounts from Bank exceeds ₹1cr from Bank, co-operative societies engaged in the business of Banking or post office).

          7. is a person whose case payment or deduction of tax has been deferred on Employee Stock option Plan.

ITR-2 – This return is applicable for an Individual(be a Resident, Non-Resident, Not ordinarily Resident) and a Hindu Undivided Family

who is NOT having income from Profits and Gains from Business or Profession (Includes Speculation Income) and Who is not eligible for filing ITR-1.Like

1. Who has Any Brought Forward Losses  or loss to be carried forward under any income

2. Who is a director in a company

3. Has Held  Unlisted equity shares of a company at any point of time

4. has signing authority in any account(as director, Company secretary, agent, officer or any legal power designated such person to sign any legal documents etc..,) located outside India

5. Has income from any source outside India

6. is a person whose tax has been deducted under section 194N (its deducted when Aggregate Cash withdrawals be it a single or multiple accounts from Bank exceeds ₹1cr from Bank, co-operative societies engaged in the business of Banking or post office ).

7. is a person whose case payment or deduction of tax has been deferred on Employee Stock option Plan.

ITR-4 – This return  is applicable for an Individual(only Resident ) and a Hindu Undivided Family or a Resident firm whose total income is having upto ₹50 lakhs and having income from Business or profession which is computed on Presumptive basis under 44ADA, 44AD, 44AE and having income from any sources like Salary, pension, one house property, Other sources income(Dividend, Interest, Family pension, Agricultural income upto 5000

ITR-4 cannot be filed by a person

1. Who has Any Brought Forward Losses  or loss to be carried forward under any income

2. Who is a director in a company

3. Has Held  Unlisted equity shares of a company at any point of time

4.has signing authority in any account(as director, Company secretary, agent , officer, or any legal power designated such person to sign any legal documents etc..,)located outside India

          5.Has income from any source outside India

6. is a person whose tax has been deducted under section 194N(its deducted when Aggregate Cash withdrawals be it a single or multiple accounts from Bank exceeds ₹1cr from Bank, co-operative societies engaged in the business of Banking or post office ).

7. is a person whose case payment or deduction of tax has been deferred on Employee Stock option Plan.

ITR-3 – This return can be filed by an Individual(be a Resident, Non-Resident, Not ordinarily Resident) and a Hindu Undivided Family)

Who is Having income from Profits and gains from Business or Profession  and who is not eligible for filing ITR-1, 2, 4  . Like

1. Who has income from any source outside India

2. Has held Unlisted equity shares of  a company at any point of time

3.Has signing authority in any account (as director, an agent, officer,  Company secretary, or any legal power designated such person to sign any legal documents etc..,) located outside India

5. Has income from any source outside India

6. is a person whose tax has been deducted under section 194N(its deducted when Aggregate Cash withdrawals be it a single or multiple accounts from Bank exceeds ₹1cr from Bank, co-operative societies engaged in the business of Banking or post office ).

7. is a person whose case payment or deduction of tax has been deferred on Employee Stock option Plan.

Author Bio

Qualification: Student - CA/CS/CMA
Company: MOJ and Associates
Location: Dancherla (V), Guntakal (T), anantapur (Dist.), Andhra Pradesh, India
Member Since: 04 Dec 2020 | Total Posts: 1

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16 Comments

  1. Pushpa P. Rane says:

    In the ITR 2 for AY 2021-22 there comes no option in the drop down menu for a second house which is self occupied. Can you please throw light on this sir?

  2. Pushpa P. Rane says:

    In the ITR 2 for AY 2021-22 there come no option in the drop down menu for a second house which is self occupied. Can you please throw light on this sir?

  3. Pradipkumar Upadhyay says:

    Income from salary and profit from sell of shares of 5 script less than 1 year. Which itr to be file pl.advise. new portal till not working

  4. Kulwant Singh says:

    Hari Prasad ji, please clarify which ITR form is to be used by an individual who has salary/ pension income, interest income, dividend income and LTCG (of less than 1 Lakh rupees).
    –Kulwant-

    1. G Hari P Reddy says:

      If you don’t have any Losses in current year which are to be carried forward to next years , and Losses from Previous years which are carried forward this year and If you don’t have any Income from Profits and Gains from Business or profession then you can file ITR-2

  5. madhu mittal says:

    Rexpected Sir,
    A person having only 100 shares of one unlisted private limited firm, has filed any other ITR in stead of ITR 2, what is the penalty for that.
    Thanks with regards,

    1. G Hari P Reddy says:

      While processing your return Tax officer will intimate you if he find your return Defect
      But you can file a revised return since the deadline is september 30, whereas interest penalty under 234A you may have to pay

  6. Balasubrahmaniam Mudiganti says:

    I am facing following problems in filling ITR 1
    1. Tax paid shown is less than that shown in 26AS
    2.I have deductions under 80D towards Mediclaim. When I click on “Go to Schedule ” i am being taken to e filing portal, but I am not able to find the schedule. what to do?
    3.One day I partly filled the return and closed the portal, next day when I opened to resume filing it indicated the details for resuming the filing. Again I closed he portal, next day when i opened it indicated “You have no draft saved”. Why is it happening?

    Please enlighten me.

    1. Sharath T Thomas says:

      1) that’s the technical issue. you need to manually enter the correct figure from 26AS.
      2) when you select 80D – YES, you can save the page and in the next page “Deductions” you can fill the 80d details. I have done it
      3) that’s the technical glitch again. I have submitted the return and later when i check i don’t find the submitted return. But don’t worry, wait for a day or 2 and it will appear again. You will also find issue witb aadhaar otp verification but you can try again after few hours or next day.

  7. Y.Ajay reddy says:

    It has been excellent performance by Hari Prasad Reddy.Has excellent skill set on working for GST and other income tax return .

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