Understanding ITR Forms for AY 2025-26(FY 2024-25): Eligibility and Filing Requirements
Income Tax Return (ITR) Forms for AY 2025–26 (FY 2024–25)
Filing the correct ITR form is not just a formality — it’s crucial for:
• Valid compliance under the Income Tax Act, 1961
• Avoiding “defective return” status
• Ensuring faster refunds & avoiding penalties
1. ITR-1 (SAHAJ)
For Resident Individuals having income up to ₹50 lakhs.
Eligible Sources of Income:
• Salary / Pension
• One House Property
• Other Sources (e.g., interest income, family pension)
• Long Term Capital Gains (LTCG) u/s 112A up to ₹1.25 lakh • Agricultural income up to ₹5,000
Not Eligible If:
• Director in a company
• Held unlisted equity shares
• Foreign income or assets
• Total income above ₹50 lakh
• Capital gains other than those allowed
2. ITR-2
For Individuals and HUFs not having income from business/profession.
Covers:
• Salary / Pension
• Multiple House Properties
• Capital Gains
• Foreign Income and Assets
• Agricultural income above ₹5,000
• Income from investments
3. ITR-3
For Individuals and HUFs with income from business or profession.
Covers:
• Proprietorship business or professional income
• Speculative and non-speculative business (including F&O trading)
• Presumptive and non-presumptive income
• Capital gains, house property, salary, other sources
New Profession Codes Introduced in AY 2025–26:
• Social media influencers (Code 16021)
• Futures & Options (F&O) traders (Code 21010)
• Commission agents, betting activities, etc.
4. ITR-4 (SUGAM)
For Residents (Individuals, HUFs, Firms other than LLPs) opting for Presumptive Taxation under sections 44AD, 44ADA, or 44AE.
Key Points:
• Income limit: up to ₹50 lakh
• LTCG up to ₹1.25 lakh allowed
• Simplified filing process under presumptive scheme
Not for:
• Directors, unlisted shares, foreign assets, or income > ₹50 lakh
• Persons engaged in businesses not covered by presumptive taxation
5. ITR-5
For Firms, LLPs, AOPs, BOIs, Estate of deceased/insolvent, Business Trusts, Investment Funds, etc.
(Not applicable to Individuals, HUFs, Companies, or Trusts claiming exemption u/s 11.)
6. ITR-6
For Companies (other than those claiming exemption under section 11).
Filed electronically with mandatory digital signature.
7. ITR-7
For persons (including companies) required to furnish returns under section 139(4A), (4B), (4C), or (4D):
• Trusts
• Charitable or Religious Institutions
• Political Parties
• Research Associations
• Universities / Colleges / Institutions
Important Timelines:
Due date (non-audit cases): 31 July 2025
Extended due date: 15 Sept 2025 (CBDT notified)
Audit cases: 31 Oct 2025
Precautions While Filing:
• Verify PAN, Aadhaar, Bank A/c, Mobile/Email
• Match AIS, TIS & Form 26AS data
• Report all income (salary, capital gains, foreign, exempt)
• File required audit reports before uploading return
• Use correct utilities (Excel/Java/JSON)
• Complete e-verification after filing