The tax assessee has investments in unlisted equity shares.A resident is having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India.When an individual is claiming Double Taxation Relief under Section 90/90A/91 of I-T Act.Individuals who earn income from any country outside India.When agricultural income of an individual exceeds Rs 5,000.When income of individuals includes winnings from lottery or horse racing.When total income of individuals include income/loss from capital gains.Individuals having income from business or profession.Individuals having multiple house properties.
This form is not applicable in the following cases : When individuals earn income from other sources like dividend, interest, etc.When individuals earn income through a single house property (except in case when loss is carried forward from previous year).When individuals earn income through salary or pension.This form can be used in the following cases :
On the other hand, individuals whose income is taxable shall not be eligible to use this form for filing the returns. 1) ITR 1įor ITR 1, also known as SAHAJ, is applicable only to individuals. Use Income Tax Calendar to know about the due dates of all ITR forms. On the other hand, ITR 5, ITR 6 and ITR 7 are applicable to firms and companies. As per the Central Board of Direct taxes, Forms ITR 1, ITR 2, ITR 3, and ITR 4 are applicable to individuals.
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