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Income Tax Return (ITR) Form for AY 2016-17 (FY 2015-16)

by | May 31, 2024 | Income Tax | 0 comments

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Important Keyword: Assessment Year, ITR Form, ITR-1, ITR-2, ITR-3, ITR-4.

Income Tax Return (ITR) Form for AY 2016-17 (FY 2015-16)

Filing income tax returns is a fundamental obligation for every taxpayer, and selecting the appropriate Income Tax Return (ITR) form is the first step in this process. For the Assessment Year 2016-17, the Income Tax Department has designated various ITR forms tailored to different types of incomes and taxpayers. Thus, it’s imperative for each taxpayer to ascertain which ITR form is applicable to their specific circumstances before commencing the filing process.

What are the different ITR Forms?

Although the Income Tax Department has prescribed 9 different ITR forms for AY 2016-17, taxpayers have to choose the one which is applicable to them.

Following ITR Forms are prescribed for Individuals (Non corporate assessees):

ITR-1 (SAHAJ)The most basic ITR form for individuals having income from salary/pension, one house property and interest
ITR-2AFor individuals/HUF having income from salary/pension, multiple house property and interest
ITR-2For individuals/HUF having income from salary/pension, multiple house property, capital gains and interest
ITR-3Form individuals/HUF who are partner in a firm and not carrying any business or profession under proprietorship
ITR-4S (SUGAM)For individuals/HUF/Partnership firms having income from presumptive business or profession
ITR-4For individuals/HUF having income from proprietary business or profession

Following ITR Forms are prescribed for corporate assessees:

ITR-5For firms, association of persons (AOP), Body of Individuals (BOI), co-operative societies and local authorities
ITR-6For companies other than companies claiming exemption under section 11 (such as charitable or religious trust)
ITR-7For trusts, political parties, scientific research organisations, colleges and universities

Know Your ITR

Sources of IncomeIndividualIndividual/ HUF
ITR-1 (SAHAJ)ITR-2AITR-2ITR-3ITR-4SITR-4
Income From Salary/Pension
Self-Occupied House Property Income
Income from multiple House Property  
Agricultural Income exceeding Rs. 5,000/-  
Income from Other Sources
Winnings from lottery and racehorses   
Capital Gains   
Profit from a Partnership Firm    
Income from Proprietary Business/ Profession     
Income from Presumptive Business/ Profession     
Foreign Assets Income   
Tax Relief under sections 90, 90A or 91   

Read More: AY 2021-22 File ITR 2 Form for Income from Capital Gains

Web Stories: AY 2021-22 File ITR 2 Form for Income from Capital Gains

Official Income Tax Return filing website: https://incometaxindia.gov.in/

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