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Return Filling

Direct tax is levied by Central government on the income of its citizens. Income act 1961 gives the authority to government to collect income tax/taxes.

Income is calculated under different heads:

  • Income under salary
  • Income from house property
  • Income from business and/or profession
  • Income from Capital gains
  • Income from other sources

To promote economy and development Govt. provides for various exemptions, reliefs and deductions under various sections of Income Tax Act.


Income Tax return forms are made available for different type of incomes.


Income TAX SLABS are specified with rates at which tax is to be paid by each legal entity and are amended every year after announcements in Financial Budget by the Finance Minister.


"Income tax return gives you a detailed picture of your total income earned during a year and taxes paid on it. ...


In fact, you must ideally file your return so that you can carry forward the losses you have incurred to set it off against the income of the subsequent years."



Type of ITR

ITR 1

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ITR 2

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ITR 3

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ITR 4

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ITR 5

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ITR 6

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ITR 7

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