Last Date for Filing Income Tax Returns is 31-03-2014 : e-file Your Tax Returns

Last Date for Filing Income Tax Returns is 31-03-2014 : e-file Your Tax Returns
Last date for income tax return filing for 2013-14 is approaching fast. For those who had not filed their income tax returns during the year, 31st March 2014 is the last opportunity to file tax returns online. You can file your tax return for the Asst Year 2013-13 and 2013-14 without any penalty and minimize payment of interest.

As such , from the current Assessment Year 2013-14, it has  become mandatory to e-file your tax return for income above 5 lacs.

Usually to file tax returns, some people tend to take the help of consultants, tax return prepares(TRP) and practicing CAs but it is worthwhile to know the bit of procedure about filing IT returns electronically.

The type of return forms which are required to file your income tax return, can be understood from the list as following:

Types of Income Tax Return Forms:


ITR 1: For Individuals having Income from Salary / Pension, Income from One House Property (excluding loss brought forward from previous years) / Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses)]

This form CANNOT BE USED by an individual if income for FY 2012-13 includes:
  • Income from more than one house property or
  • Income from Winnings from Lottery / Race Horses or
  • Income from Capital Gains, which are not exempt from tax or
  • Income from Agriculture in excess of Rs. 5000/- or
  • Exempt Income (includes exempt amount of Conveyance Allowance, HRA, Other Exempt Allowances, Maturity amount of Insurance etc. ) in excess of Rs. 5000/- or
  • Loss under Head "income from Other Sources" or
  • Person claiming benefit of Foreign Tax paid u/s 90, 90A or 91 or
  • Income from Business or Profession or
  • A resident having any asset located outside India or signing authority in any account located outside India.

ITR 2: This form is applicable for Individuals and HUFs having Income from:
  • Income from Salary/Pension;
  • Income from House Property;
  • Income from Capital Gains;
  • Income from Other Sources

This form should not be used by an individual or HUF whose income includes income from Business or Profession.

ITR 3: For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship.

ITR 4: This form is applicable for an individual who has income from business/profession.

SUGAM -ITR 4S: This return form is to be used by an Individual/HUF having income from:
  • Business income where such income is computed in accordance with special provisions referred to in Section 44AD and 44AE.
  • Income from one house property (excluding loss brought forward from previous years)
  • Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses)

ITR 5: For Firms, Co-operative Banks, Co-operative Societies, Limited Liability Partnerships (LLP), Associaltion of Persons (AOP), Body of Individuals (BOI) and Artificial Judicial Persons.

ITR 6: This form is applicable for a Company.

ITR 7: This form  is applicable for a Trust.

ITR 8: This form is used for filing only Fringe Benefit Tax Return.

ITR V: Acknowledgement Form for all ITR Forms except ITR 7.


Avail the last minute chance for filling income  tax return online to avoid imposition of penalty and interest.You can also check the status of  tax return subsequently and for that you can login to Status

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