By Admin 
Income tax return: The work of filing income tax returns (ITR) has started. Now you can file their returns online by filling ITR-1 and ITR-4 form through e-filing portal for taxpayers assessment year 2025-26. However, people getting salary will be able to file their returns only after getting Form-16 from the company. If you too are thinking of submitting your return as soon as possible, then it is important to know which form you have to fill.
ITR-1
ITR-1 is also called a spontaneous form, which is not for everyone. If your annual income is less than Rs 50 lakh. Also, the source of earning is mainly salary, pension, rent from any one house, interest on money deposited in the bank and income from up to Rs 5,000, then you can fill the ITR-1 form. Those earning long term capital gains of up to 1.25 lakhs will also be able to fill this form. Capital gains mean earnings from the sale of stock market, mutual funds or any digital assets.
Apart from this, long -term capital gains will not be able to fill this form. Those who have their own business, the owners of more than one home, will not be able to fill this form from winning the lottery or cavalry. Those who have earned more than 5000 rupees from farming, earning from abroad or if someone has shares of unlisted company, they will also not be able to fill -1.
ITR-2
If you do a job or are pensioners, but there are many sources of your income such as a business, earning profit from the share, earning from abroad or is getting fare from more than one assets or a doctor is a profession like a doctor, then they have to pay ITR-2.
ITR-4
ITR-4 is also known as smooth form. This form is for Hindu undivided families, small business running or partnership in partnership. Apart from this, freelancing, consultancy, medicine or retail businesses can also fill this form. However, the annual income for this should be up to Rs 50 lakh. In this form, you can also give information about salary, pension, earnings from interest, family pension and income from farming. If you have opted for a proclamation tax on business earnings under Section 44AD, 44ADA and 44AE of the Income Tax Act, then this form is right for you.
If you are NRI or are the director of a company or earning from more than one property, then you will not be able to fill this form. If you have unlisted shares, tax payments on ESOP are postponed, even if you are earning from sources like lottery or horse racing, you will not be able to fill this form.
ITR-1 and ITR-4 are just a difference of earnings. Those who earn from salary and pension will be able to fill the comfortable. At the same time, businesses or freelance can fill the easy.
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