Choosing the right ITR form: FY 2019-20

All individuals having taxable income or the individuals who fulfill other recommended conditions are required to record yearly income tax return (ITR) within the predetermined due date. For the financial year (FY) 2019-20, the predetermined due date for individuals (as notified  by the government) is November 30, 2020 for filing tax returns. 

Filing the ITR is mandatory in the following cases. 


  • The individual's taxable income surpasses the most extreme sum not chargeable to tax. The essential exclusion limit for FY 2019-20 is Rs 3 lakh for senior residents (matured 60 years or more yet under 80 years), Rs 5 lakh for very senior residents (matured 80 years or more), and Rs 2.5 lakh for other people; 

  • The individual needs to claim a tax refund

  • The individual qualifies as an ordinarily resident during FY 2019-20 and holds foreign resources which should be explicit. 

  • The individual qualifies as an ordinarily resident during FY 2019-20 and holds foreign resources which should be explicitly revealed in the ITR. These advantages incorporate foreign ledgers, foreign properties, financial resources, marking authority, and so forth.; 

  • The individual has embraced explicit transactions viz (an) installment of electricity bill in abundance of Rs 1 lakh during the FY (b) stored more than Rs 1 crore in at least one ebb and flow accounts during the FY or (c) spent more than Rs 2 lakh on abroad travel for self or some other individual during the FY. 

  • Other than these compulsory reasons, it is a decent practice to record ITR since tax return documentation is required for visa applications, profiting bank advances and so on. 


Consistently, the Central Board of Direct Taxes (CBDT) tells the ITR forms for the past finished financial year. For FY 2019-20, the refreshed ITR forms were advised by means of Notification 31/2020 dated May 29, 2020 and Notification 01/2020 dated January 3, 2020 (in this manner superseded by Notification 31/2020).


The details of these ITR forms including who should use them and who should not use them are summarised in the table below:


Form

Applicable Cases

Not Applicable Cases

ITR Form 1 (Sahaj)

Individuals qualifying as Ordinarily Resident;

Having a combined annual income of up to Rs 50 lakh;

Having income from following sources – pay rates, one house property, income from different sources including horticultural income up to Rs 5,000;

This form likewise applies to comparative income of an alternate individual state life partner or youngster, clubbed in the possession of the taxpayer.

Non-residents/Resident however Not Ordinarily Resident;

Hindu Undivided Family (HUF);

Ordinarily Residents having an all out income of more than Rs 50 lakh;

Director in an organization;

Holding interests in unlisted value shares;

Having presented misfortunes under the head 'income from house property';

Having income from some other source, eg. more than one house property, capital gains and so on.;

Having income from sources outside India and holding resources outside India

ITR Form 2

Non-residents / Resident but Not Ordinarily Residents and Ordinarily Residents;

Hindu Undivided Family (‘HUF’);

Having a total income of more than Rs 50 lakh;

Director in a company;

Holding investments in unlisted equity shares;

Having income from following sources – salaries, more than one house property, capital gains and income from other sources;

Having income from sources outside India and holding assets outside India

Individuals / Hindu Undivided Family having business income / income from profession

ITR Form 3


Individuals / Hindu Undivided Family having business income / income from profession


Includes partner of a Firm

Individuals / HUF who do not have business income / income from profession

ITR Form 4 (Sugam)

Resident Individuals / HUF / Firm (other than LLP) having business or professional income computed on ‘presumptive basis’

Individual who is a Director in a company or having an investment in unlisted equity shares

ITR Form 5

Any person other than individual, HUF or company filing an ITR 7 (eg. LLP)

Individual, HUF or company filing ITR 7

ITR Form 6

All companies, unless specifically excluded

Companies claiming exemption for income from charitable or religious trust

ITR Form 7

Persons including organizations which are a non-profit, charitable or religious trust, authorized political party, any scientific research association, news related agency, hospital, trade union, university, college or other institutions such as an NGO or related organizations.

Other category of taxpayer

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