ITR filing 2025: Forms 1 to 5 notified, which one should you use?
The Income Tax Department has started rolling out income tax return (ITR) forms for the financial year 2024–25. Forms ITR-1, 2, 3, 4 and 5 have already been notified. If you're wondering which form applies to you, here's a simple guide that can help you file your return smoothly this year.ITR-1ITR-1, or Sahaj, is for resident individuals whose total income is not more than Rs 50 lakh. If your income is from a salary or pension, one house property, bank deposit interest, or small agricultural income (not more than Rs 5,000), then this form is suitable for you.advertisementBut if you're a director in a company, have invested in unlisted shares, earn from business or profession, or have foreign assets or capital gains, then you cannot use ITR-1.ITR-2
ITR-2 is for people who do not qualify for ITR-1. It applies to individuals and Hindu Undivided Families (HUFs) who don't have business income.It can also be used by those who earn capital gains or have foreign assets, or where the income of a spouse or minor child is added to theirs under certain rules.ITR-3ITR-3 is for those who operate a business or profession. If you are a doctor, lawyer, chartered accountant, or operate any other business where your income is computed from actual profits, and you have detailed books of accounts, this is the return you must file.ITR-4advertisementITR-4, also known as Sugam, is for small business owners, professionals, or firms (excluding LLPs) with a total income of up to Rs 50 lakh. If your income is calculated on a presumptive basis under tax rules like 44AD, 44ADA, or 44AE, this is the correct form for you.ITR-5ITR-5 is for entities like firms, Limited Liability Partnerships (LLPs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), and other such bodies. Individuals cannot file this form.Filing the right form is important to ensure your return is accepted without any hassle. So before you get started, make sure you choose the form that matches your income type and category.Trending Reel
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