Filing your Income Tax Return (ITR), but unsure which ITR form to file? Choosing the wrong form can lead to penalties, tax notices, or missed deductions. Whether you’re a salaried individual, freelancer, or business owner, knowing the right ITR form for your income type is crucial for hassle-free filing.
But don’t worry, Tax2win makes your tax filing journey hassle-free. Its AI-enabled ITR filing platform automatically selects the appropriate ITR form for you. With Tax2win, you can file your ITR yourself in less than 4 minutes. The software auto-populates most of the data to avoid manual entry and is super easy to use.
So, if you are someone who knows a little about taxes, you can easily file ITR yourself on Tax2win.
And if you still need assistance, our experts are here to help. Whether you want to file your ITR yourself or get help from tax experts, Tax2win has got you covered.
Here’s a simple guide to help you understand which ITR form to file based on your income source.
Which ITR Form to File for a Salaried Person?
Here are the ITR forms to file for salaried persons –
- ITR-1 (Sahaj): Applicable for resident individuals having income ≥ Rs.50 lakhs from salary, one house property or other sources.
- ITR-2: For those earning above ₹50 lakh or having capital gains, multiple house properties, or foreign assets.
Which ITR Form to File for Freelancers?
Over the last few years, freelancing has increased in popularity. Having said that, it is common to wonder “which ITR form to file for freelancers”.
- ITR-3: If you’re a freelancer earning above ₹50 lakh or maintaining books of accounts, then, you must file ITR-3.
- ITR-4 (Sugam): If you opt for the presumptive taxation scheme, which allows you to pay tax on 50% of your income (for income up to ₹50 lakh).
Which ITR Form to File for Businesses?
Have a business? Here are the ITR forms you can file –
- ITR-3: If you have income from any business/profession and have not opted for the presumptive income scheme, you can file ITR-3.
- ITR-4 (Sugam): For individuals, HUFs, and firms (other than LLP) with a total income of up to Rs. 50 lakh and those who have opted for the presumptive income scheme.
- ITR-5, ITR-6, ITR-7: For partnerships, LLPs, and companies.
While ITR Form to File for Capital Gains?
If you have earned capital gains in the previous year, you need to file this ITR form –
ITR-2: ITR-2 is applicable if you have income from capital gains, own more than one house property and your total income is less than Rs.50 lakhs.
Not Sure Which ITR Form to File? Let Tax2win Help!
Filing the wrong ITR form can lead to penalties and delays. But don’t worry—Tax2win simplifies ITR filing for salaried individuals, freelancers, and businesses!
- Get Expert CA Assistance – Let experts handle your ITR filing and ensure 100% accuracy.
- AI-integrated ITR Filing – Our platform automatically selects the right ITR form for you.
- Maximize Tax Savings – Ensure you claim every deduction you’re eligible for.
- Fast & Hassle-Free Process – No paperwork, no stress—just seamless tax filing!
File Your ITR with Tax2win Today!
Still wondering which ITR form to file? Let our tax experts handle it for you. Hire an online CA Now!
Leave a Reply