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The deadline for filing the Income Tax Return (ITR) for the financial year 2022-23 (AY 2023-24) is 31st July 2023.
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ITR 1: For Indian individuals with income up to Rs 50 lakh, excluding NRIs, who earn from jobs, homes, etc., using Form 16 for filing.
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ITR 2: For individuals, HUFs, and NRIs with income from sources other than business or occupation, including capital gains and stock transactions.
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ITR 3: For individuals disclosing income from business or profession, including salaried individuals with intraday trading income.
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ITR 4: For individuals, HUFs, and partnership firms under presumptive taxation, based on turnover and occupation type.
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ITR 5: For LLPs, partnership firms, AOPs, and BOIs to report business, profession, and other income sources.
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ITR 6: Tax return used by companies to report income from business, occupation, and other sources.
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ITR 7: Tax return for businesses, partnerships, and trusts exempted from income tax payment.
Author: Soumya Prakash Pradhan | Credit: Canva Pro