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Income Tax return form :

Income Tax return form : Detailed Income Tax information , download or ITR filling work must be done through Income Tax site as www.incometaxindia.gov.in . For Ay 2019-20 ITR form may be uploaded later. For sample previous year(Ay 2018-19) return has shown below.

  • ITR-1:Form ITR-1 can be used when the source of income from Salary/Pension, One House Property and other sources except winning from lottery and race horses. Form ITR-1 should not be filed for specific cases as mentioned below, rather they can filled ITR-2.
    • • Income that aboveRs. 50 Lakhs.

    • • Taxable Capital Gains.

    • • Income from foreign assets.

    • • Agricultural income not exceeds Rs. 5000.

    • • Income from Business or Profession.

    • • Income from more than one house property

    • If above criteria comes ,then in that case ITR-2 can be filled.
    • Download ( Form of ITR-1)

  • ITR-2 :Form ITR-2 can be filling any individuals who are not eligible to file ITR-1, which has mentioned above. It should not be filed by any individual who has income under the head of Business or Profession from a proprietorship, company or LLP or other types of legal entity.

  • ITR-3:For individuals and HUFs having income from profits and gains of business or profession.

  • ITR-4(SUGAM) :ITR-4 Sugam may be filling For Presumptive Income from Business & Profession, it means when business turn over below the specified limit (1 cr for business & 50 lakhs for profession), then audit is not necessary. At that time 8% should be taken as net profit of total turnover.

  • ITR-5 :For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7.

  • ITR-6 : For Companies other than companies claiming exemption under section 11 OF 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F)]

  • ITR –V :ITR V is the acknowledgement copy provided by Income-tax department when return submitted in Income-Tax. It may be submitted direct online through e-verify or hard copy may be at IncomeTax Department, CPC, Benaluru-560100 which sent for verification.



Download Income Tax Deduction Under Chapter VI-A for Individual, HUF & Company.

Section Assessee Particulars Deduction Amount
80C Individual or HUF Investment or Contribution to LIP/PPF/SPF/RPF/ NSC/UTI/MF/AnnuityPlan/NABARD/Loan Repayment of loan construction/purchase House Rs. 1,50,000/-*
80CCC Individual Pension Funds/Annuity Plan of LIC Rs. 1,50,000/-*
80CCD Individuals Contribution to Pension Scheme of Central Government 1) Salaried Employee Max 10% of Salary also additional deduction of Rs. 50,000/-
2) Other case - Max 20% of Gross Total Income
80CCG Individuals Investment to notified share/ equity saving scheme 50% of total invested or Rs.25,000/- Whichever is less.
80D Individual or HUF Medical Insurance claim Rs 25,000 for general
Rs 30,000/- for Senior Citizens)
80DD Individual or HUF Maintenance/medical treatment of a depended disability person. Normal - Rs.75,000
Severe - Rs. 1,25,000
80DDB Individual or HUF Deduction for medical treatment of specified diseases or ailments Up to Rs.40,000 or Rs1,00,000 for senior citizen
80E Individual Interest paid on loan taken for higher education. Deduction available for initial 8 AY or until the interest is paid in full, (whichever is earlier.)
80EE Individual Deduction for interest on loan borrowed for acquisition of self-occupied house property. Deduction up to Rs.50,000
80G For all Assesee (Individual,HUF, Company etc.) Donation to certain funds, charitable trust etc. a)100% deduction without any qualifying limit
b) 50% deduction without any qualifying limit
c) 100% deduction with qualifying limit
d) 50% deduction with qualifying limit
80GG Individual Rent Paid Least of following deduction
1) 25% of total income
2) Rent paid in excess 10% of total income
3) Rs. 5000 p.m.
80GGB Any Company Contribution to political parties Actual Contribution paid(other than cash only).
80TTA Individual or HUF Interest on deposit in a saving account with banks, cooperative society and post office. Interest Received/ Rs10,000 whichever is lower
80TTB Individual or HUF Interest on deposit with a saving account with banks, cooperative society and post office. Interest Received/ Rs50,000 whichever is lower
54 Individual or HUF Sale of residential house or land, purchase/construction of one new residential house Total investment or capital gain whichever is lower.
54B Individual or HUF Capital gain from land which used in agricultural purposes but other agricultural land . Total investment or capital gain whichever is lower.

Accounts & audit:

Section Particulars Threshold
44AA Maintain of prescribed books of account - Specified Profession. Persons carrying on specified profession and their gross receipts exceed Rs. 1,50,000 in all the 3 years immediately preceeding the previous year.
44AA Compulsory maintenance of books of account - Other business or profession a)If total sales, turnover or gross receipts exceeds Rs. 25,00,000 in any one of the three years immediately preceding the previous year or
b)If income from business or profession exceeds Rs. 2,50,000 in any one of the three years immediately preceding the previous year.
44AB Compulsory Audit of books of accounts a) If total sales or gross receipts exceeds Rs. 2 Crore in any previous year, in case of business.
b) If gross receipts exceeds Rs. 50 Lakhs in any previous year, in case of profession.

Presumptive Taxation :

Section Nature of business Threshold income
44AD Income from business can be computed on presumptive basis, if turnover of such business does not exceed Rs.2crore rupees. Presumptive income of eligible business shall be 8% of gross receipt/ total turnover. Note: Presumptive income shall be calculated at rate of 6% in respect of total turnover or gross receipt.
44ADA Income from eligible profession u/s 44AA(1) can be computed on presumptive basis if the total gross receipts from such profession do not exceed Rs 50 lakh rupees in a previous year. Presumptive income of such profession shall be 50% of total gross receipt.
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