Income Tax Return (ITR) Filing for All Persons in India involves submitting details of income earned and taxes paid to the Income Tax Department of India for a specific financial year.
There are different types of ITR forms , based on the type of person (individual, company, HUF, etc.) and the nature of income .
Types of Persons and Applicable ITR Forms 1. Individuals (Salaried, Self-employed, Freelancers)
Form Who Should File Income Source ITR-1 (Sahaj) Resident individuals (Income ≤ ₹50L) Salary, 1 House Property, Interest ITR-2 Individuals/HUFs (Income > ₹50L or capital gains) Salary, Multiple House Properties, Capital Gains ITR-3 Individuals/HUFs with business/profession income Business or Professional Income ITR-4 (Sugam) Individuals/HUFs/Firms (Presumptive income scheme) Business/Profession under Section 44AD/44ADA
2. Hindu Undivided Family (HUF)
Use ITR-2 or ITR-3 , depending on nature of income.
3. Partnership Firms (Excluding LLP)
Form Who Should File Notes ITR-5 Partnership firms, AOPs, BOIs Includes presumptive taxation or regular accounting
4. Limited Liability Partnerships (LLPs)
Form Income Type ITR-5 All income types (except those requiring ITR-7)
5. Companies (Private Ltd, Public Ltd)
Form Description ITR-6 Companies not claiming exemption under Section 11 ITR-7 Companies/Trusts claiming exemption under Section 11 (charitable/religious)
6. Trusts, NGOs, Political Parties
Form Description ITR-7 Applicable to trusts, societies, political parties, universities, research institutions, etc.
Due Dates (FY 2024–25) Person Type Due Date Individuals, HUF, Firms (non-audit) 31st July 2025 Companies, Firms (audit required) 31st October 2025 Transfer pricing cases 30th November 2025
Penalties for Late Filing
₹1,000 to ₹5,000 late fee under Section 234F
Interest on tax due under Section 234A/B/C
Losses cannot be carried forward
