ITR Form Selector

It depends on your income type. Salary only means ITR-1. Capital gains from shares, property, or crypto means ITR-2. Business or freelancing income means ITR-3. If you use presumptive taxation under 44AD or 44ADA, file ITR-4.

Yes, if your total income is ₹50 lakh or less. You must also be a resident Indian with no capital gains, no foreign assets, and only one house property. If any of these conditions are not met, you need ITR-2.

Your return will be marked as defective under Section 139(9). The tax department will send you a notice and you get 15 days to correct it. Choosing the wrong form can also delay your refund.

No, you cannot use ITR-1 if you have capital gains. You need to file ITR-2, or ITR-3 if you also have business income. However, from AY 2026-27, LTCG under Section 112A up to ₹1.25 lakh is allowed in ITR-1.

You need ITR-2 or ITR-3. Crypto is taxed at a flat 30% under Section 115BBH and is treated as capital gains. ITR-1 and ITR-4 cannot be used for crypto income.

You must file ITR-3. F&O trading is classified as business income under Indian tax law. Filing ITR-2 for F&O income is a common mistake that results in a defective return.

File ITR-3 if you maintain normal books of accounts. If you opt for presumptive taxation under Section 44ADA and your income is ₹50 lakh or less, you can use ITR-4 instead.

No, ITR-1 allows only one house property. If you own two or more properties, you need to file ITR-2 or ITR-3.

You need ITR-2 or ITR-3. Any foreign asset, including shares, bank accounts, or property outside India, makes you ineligible for ITR-1 and ITR-4.

Yes, if your business turnover is above ₹1 crore. Tax audit under Section 44AB requires ITR-3 and your filing deadline extends to October 31 instead of July 31.

ITR-1 (Sahaj) is the easiest. It has the fewest fields and does not require schedules for capital gains or business income. Most salaried people in India use this form.

There are 4 main forms for individuals: ITR-1, ITR-2, ITR-3, and ITR-4. There are also ITR-5, 6, and 7 but those are for firms, companies, and trusts. Most people only need to choose between the first four.

The type of income you earn. Salary income leads to ITR-1, capital gains to ITR-2, business income to ITR-3, and presumptive income to ITR-4. Other factors like residency, foreign assets, and income level also matter.

Yes, you can file a revised return under Section 139(5). You can revise your return until December 31 of the assessment year. The revised return replaces the original one completely.

ITR-1, if you have no other disqualifying conditions. Bank interest (savings, FD) falls under income from other sources which is allowed in ITR-1.

It depends on the agricultural income amount. If your agricultural income is ₹5,000 or less, you can use ITR-1. If it is above ₹5,000, you need ITR-2.

No. The ITR form depends on the type of income, not the amount. Even ₹1 of capital gain means you need ITR-2 or ITR-3. The only exception from AY 2026-27 is LTCG under Section 112A up to ₹1.25 lakh.

ITR-2 if you have no business income. Property sale results in capital gains (long-term if held for more than 24 months, short-term otherwise). If you also have business income, file ITR-3.

ITR-2 or ITR-3. Capital losses still count as capital gains income for form selection purposes. Filing the correct form is important because you need it to carry forward the loss for future set-off.

No, buying alone does not create a taxable event. You only have capital gains when you sell, trade, or exchange crypto. Until then, your ITR form depends on your other income sources.

Presumptive taxation is a simplified way to calculate business income. Under Section 44AD, the government assumes your profit is 6 to 8 percent of your total revenue. Under Section 44ADA for professionals, it is 50 percent. You do not need to maintain detailed books of accounts. If eligible, you file ITR-4.

Use ITR-4 when you opt for presumptive taxation and meet all conditions. Your income must be ₹50 lakh or less. You must not have capital gains, foreign assets, or be a company director. If any condition is not met, you need ITR-3 instead.

Generally no. However, from AY 2026-27, LTCG under Section 112A up to ₹1.25 lakh is allowed in ITR-4. Any STCG or LTCG above ₹1.25 lakh means you need ITR-3.

ITR-3. F&O trading losses are still classified as business income. Filing ITR-3 is essential because you can carry forward the loss for up to 8 years to set off against future gains. If you file late, you lose this benefit.

No, NRIs cannot use ITR-1 or ITR-4. If you are a Non-Resident Indian, you need to file ITR-2 or ITR-3 depending on your income sources.

No. Company directors cannot use ITR-1 or ITR-4. Even if you are a sleeping director or the company is dormant, you need to file ITR-2 or ITR-3.

You need ITR-2 or ITR-3. Income above ₹50 lakh makes you ineligible for ITR-1 and ITR-4. You also need to fill the Assets and Liabilities schedule in your return.

ITR-1, if you meet all other conditions. Income from one house property is allowed in ITR-1. If you own two or more properties, you need ITR-2.

It depends on the type of loss. Capital losses require ITR-2 or ITR-3. Business losses require ITR-3. You must file on time to carry forward losses. Late filing means you lose the carry forward benefit.

ITR-3. Once you opt out of presumptive taxation, you must file ITR-3 and maintain proper books of accounts. Note that opting out has a 5-year lock-in under Section 44AD.

ITR-3. When you have mixed income from multiple categories including business, ITR-3 is the only form that covers all of them. ITR-3 accommodates salary, house property, capital gains, business, and other sources together.

ITR-3 is the most detailed form for individuals. It includes schedules for profit and loss, balance sheet, capital gains, and all income types. Most people with business income or F&O trading need a CA to help with this form.

Yes, for simple cases like ITR-1 you can file it yourself on incometax.gov.in. For complex returns (ITR-2, ITR-3 with capital gains, F&O, or foreign assets), it is better to consult a Chartered Accountant to avoid mistakes.

Yes, file a revised return under Section 139(5) before December 31 of the assessment year. If the deadline has passed, you can file an updated return under Section 139(8A) within 24 months of the end of the assessment year, but a 25 to 50 percent additional tax applies.