Income Tax Return: Many forms but which one is for you

All set to file your Income Tax Return? But are you still confused about which form you are supposed to fill?

This year, the government has introduced four forms, namely ITR 1, ITR 2, ITR 2A and ITR 4S - different forms meant for different individuals and Hindu Undivided Families (HUFs).

Take a look at which form you are eligible for:

ITR 1 (SAHAJ)

# Individuals having income from salary are eligible to fill this form.

# If income arises from more than 1 house property, you are not eligible to use this form.

# This form can also be used if income arises out of interest.

ITR 2

# For individuals and HUFs not having income from business or profession.

# This form is eligible for those earning Income through salary or pension.

# Those having income through house property can also use this form.

# Individuals earning through both short and long term capital gains can avail this form.

# Earnings through other sources such as lottery, bets on Racehorses and other Legal methods of Gambling.

ITR 2A

# For individuals and HUFs not having income from business or profession.

# Eligible for those not having income through capital gains.

# Those who do not hold foreign assets are also not eligible to avail this form.

ITR 4S (SUGAM)

# For individuals/HUFs having income from presumptive business.

# Any business income computed in accordance with special provisions as referred to in Section 44AD and 44AE of IT Act.

# Earned income through salary and/or pension.

# Earnings through other sources such as lottery, bets on Racehorses and other Legal methods of Gambling.