Income Tax Forms

Last Updated at: March 14, 2020
2695
income tax form

From ITR Form 1 to ITR Form 7, the types of applications available for submitting income tax returns are many. It is so because each sort of taxpayer has to be judged and evaluated on a different set of criteria. Within this feature, you can find an explanation of which form applies to which category. Let us see the Income Tax forms.

The Income Tax Department has grouped taxpayers based on certain criteria. Each group is required to fill in a different form. This is because an NGO’s return needs to be evaluated on different criteria than an individual’s and a company’s.

Below you’ll find the list of essential and start-up friendly services like how to apply for a food license, time take for trademark registration or procedure for Udyog Aadhaar registration.

Thus, it is essential to understand which category you fall into, before downloading the ITR form. For the convenience of the Taxpayers, the ITR forms are available in three formats – the Java ITR utility, PDF files and Excel sheet (included in a zip file).

Get to know more on your ITR forms

Online taxpayers need to use the Java ITR utility or an Excel sheet, while those filing their taxes physically need to download ITR in PDF format and fill it up according to the instructions.

Each ITR form serves an independent category of taxpayers. The table below gives a detailed account of the different ITR forms and their applicability criteria. You can download ITR forms on the Government website.

[table file=”https://vakilsearch.com/advice/wp-content/uploads/2016/09/ITRForms.csv”][/table]

While the ITR 6 is applicable for all firms, ITR-4 is for proprietorship firms and professionals, ITR 1 and 2 are for individuals and ITR 3 for HUF of partners. To summarise, always read the Eligibility Criteria carefully before choosing the ITR form to submit your first tax returns.

ITR balance sheet format is provided below:

Sample format of balance sheet

The new format of the balance sheet is called “vertical format balance sheet”.

0

Income Tax Forms

2695

From ITR Form 1 to ITR Form 7, the types of applications available for submitting income tax returns are many. It is so because each sort of taxpayer has to be judged and evaluated on a different set of criteria. Within this feature, you can find an explanation of which form applies to which category. Let us see the Income Tax forms.

The Income Tax Department has grouped taxpayers based on certain criteria. Each group is required to fill in a different form. This is because an NGO’s return needs to be evaluated on different criteria than an individual’s and a company’s.

Below you’ll find the list of essential and start-up friendly services like how to apply for a food license, time take for trademark registration or procedure for Udyog Aadhaar registration.

Thus, it is essential to understand which category you fall into, before downloading the ITR form. For the convenience of the Taxpayers, the ITR forms are available in three formats – the Java ITR utility, PDF files and Excel sheet (included in a zip file).

Get to know more on your ITR forms

Online taxpayers need to use the Java ITR utility or an Excel sheet, while those filing their taxes physically need to download ITR in PDF format and fill it up according to the instructions.

Each ITR form serves an independent category of taxpayers. The table below gives a detailed account of the different ITR forms and their applicability criteria. You can download ITR forms on the Government website.

[table file=”https://vakilsearch.com/advice/wp-content/uploads/2016/09/ITRForms.csv”][/table]

While the ITR 6 is applicable for all firms, ITR-4 is for proprietorship firms and professionals, ITR 1 and 2 are for individuals and ITR 3 for HUF of partners. To summarise, always read the Eligibility Criteria carefully before choosing the ITR form to submit your first tax returns.

ITR balance sheet format is provided below:

Sample format of balance sheet

The new format of the balance sheet is called “vertical format balance sheet”.

0

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A lawyer with 14 years' experience, Vikram has worked with several well-known corporate law firms before joining Vakilsearch.