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New ITR Forms AY 2017-18 (FY 2016-17) : Which ITR Form should you file?

Last updated: July 31, 2017 | by

Central Board of Direct Taxes has notified the new ITR Forms AY 2017-18 (for FY 2016-17). In order to make Income Tax Return filing easy, quite a few changes in ITR Forms have been implemented.

The new ITR forms in PDF format have been made available, while the excel utilities (or) Java Utilities for AY 2017-18 will soon be made available on incometaxindia e-filing website.

What is AY & FY?

Financial year (FY) is the year in which you have earned the income. If you are filing a return this year, the financial year will be 2016-17.

For example, if you have had an income between 1st April 2016 and 31 March 2017, then 2016-17 will be referred to as FY. Assessment Year (AY) is the year in which you file returns i.e., 2017-18. The last date to file returns for the financial year 2016-2017 is July 31st 2017 (as of now).

Income Tax Slabs & Rates for FY 2016-17 (AY 2017-18)

The below table gives you clear idea about Income tax slabs / rates for all Tax payer categories. (For general category, Senior Citizens & Very Senior Citizens).Income Tax Slab Rates for FY 2016-17 AY 2017-18 pic

Income Tax Returns Filing & New ITR Forms AY 2017-18 | Which ITR Form should you file?

Below are the main details about new ITR forms. You can download the ITR Forms which are in PDF format.

  • The number of ITR Forms have been reduced from the existing nine to seven forms.
  • Kindly note that it is now mandatory to quote your Aadhar number / Aadhar Enrollment ID and also disclose Cash deposits of more than Rs 2 lakh made during demonetisation period (between 9-Nov-2016 & 30-Dec-2016). (Quoting of Aadhaar number in ITR forms is not mandatory for NRIs / individuals who are not citizens of India / who are above 80 years of age / who are residing in States of Jammu & Kashmir, Meghalaya & Assam.)
  • The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of these three forms.
  • The existing ITR 4 has been re-numbered as ITR 3.
  • ITR 4S (Sugam) is now ITR 4 (Sugam).
  • All ITR forms have to be filed electronically. The only exception being ; in the case of individuals of the age of 80 years or more, whose income does not exceed Rs 5 lakh and who has not claimed any refund in the return of income, have an option to file return in paper form.

New ITR 1 (Sahaj) Form For Assessment Year 2017-18 :

  • The existing multiple pages ITR 1 form has now been simplified into a single page ITR Form.
  • ITR 1 Form (Sahaj) can be filed by an individual having income of up to Rs 50 lakh from salary, one house property and interest income.Latest ITR 1 sahaj form for slary income pension house property interest income AY 2017-18
  • In this ITR form, important tax deductions like Section 80C, 80D, 80G & 80TTA have only been provided. For other tax deductions, you can just mention the section and amount details.Income tax deductions Section 80c Latest ITR 1 sahaj form for income tax return filing FY 2016-17 AY 2017-18
  • If you have LTCG of Rs 2.5 Lakh or more, It is mandatory to e-file tax returns, even if your total taxable income may be below Rs 2.5 lakh.
  • A separate provision has been provided to disclose Long Term Capital Gains (LTCG) as Exempt income under section 10 (38).ITR 1 form AY 2017-18 Long term capital gains dividend income exempt income section 10 38 & 34 pic
  • A separate provision has been provided to disclose Dividend income received from an Indian company as Exempt income under section 10 (34).
  • Click here to download new simplified ITR 1 Form for AY 2017-18.Latest ITR 1 sahaj form AY 2017-18 IT efiling FY 2017-17 New ITR Forms AY 2017-18

New ITR 2 Form for Assessment year 2017-18 :

  •  ITR2 form can be filed by an Individual or Hindu Undivided Family (HUF). This form can be used if you have;
    •  Salary or Pension Income
    •  Income under the head ‘Capital Gains’
    •  Income from multiple houses
    •  No business / professional income under any proprietorship
    •  An asset in foreign country or income from a source outside India
    • Agricultural income of more than Rs 5,000
    • Income from lottery or horse racing
  • If your income is more than Rs 50 Lakh, ITR 2 has a Schedule AL requiring assessees to declare their assets and liabilities at the end of the fiscal.
  • Click here to download new ITR 2 Form.

New ITR 3 for AY 2017-18 Income tax filing

  • The existing ITR 4 is now re-numbered as ITR 3 form.
  • New ITR 3 form is for individuals and HUFs having income from a proprietary business or profession (or having income as a partner in a Partnership firm).
  • This ITR covers all kind of businesses and professions irrespective of any income limit. Assesse can also report his income from salary, multiple house properties, lottery winnings, capital gains, speculative income i.e. horse race in ITR3 together with the Business Income.
  • Click here to download new ITR 3 Form.

New ITR 4S (Sugam) form for AY 2017-18

  • This form can be used by individuals who have;
    • Presumptive income from Business or Profession.
    • No Capital Gains
    • Agricultural Income which is less than Rs 5k
    • No asset in foreign country or no income from a source outside India
    • Income from one house property
    • Income from other sources
  • Click here to download new ITR 4S form.

Latest Update (31-July-2017) : Income Tax Return filing deadline for AY 2017-18 has been extended till 5th August, 2017. (Source : ET)

Continue reading :

(Image courtesy of Stuart Miles at FreeDigitalPhotos.net) ( (Post first published on 31-March-2017) (This post will be updated with more information after going through the latest ITR forms in detail..)

Sreekanth Reddy:

Sreekanth is the Man behind ReLakhs.com. He is an Independent Certified Financial Planner (CFP), engaged in blogging & property consultancy for the last 10 years through his firm ReLakhs Financial Services . He is not associated with any Financial product / service provider. The main aim of his blog is to "help investors take informed financial decisions." "Please note that the views given in this Blog/Comments Section/Forum are clarifications meant for reference and guidance of the readers to explore further on the topics/queries raised and take informed decisions. These should not be construed as investment advice or legal opinion."

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  • सर मै साइन सिटी रियल स्टेट कंपनी मै काम करता हु जितना प्लाट बिक्री करवाता हु उसका मेरा पैसा बनता है तो मुझे कौन सा आई टी आर फॉर्म भरना होगा

  • Sir,
    sorry if it sounds silly.
    should i attach any proofs for section 10 (34) and 10 (38) ?

    • Dear sam,
      These two pertain to Dividend income and exempted LTCG.
      There is no need to submit or provide documentary evidence along with your ITR for these incomes.
      But advisable to save the related docs for your future reference.

  • Sir plz clarify a senior citizen retired from Ordnance Depot, which one selected in employer category, mentioned becoz there are four options Govt/Pvt/Not applicable/other. which one choose?

  • Sir, I derived income from Salary.
    Also I have capital gain income (Securities) & other source income for AY 2017-18.

    Which ITR to be fill for AY 2017-18?

  • Hi
    Shreekanth
    Please explain me what is the meaning of Do you want to claim the benefit u/s 115H (Applicable to Resident)?
    We select Yes/No. ?

    Thanks
    Rajendra Pednekar

    • Dear Rajendra,
      Section 115H gives a continued availability of the benefit to a Non-Resident Indian even after the said person has become assessable as a resident in relation to the investment income derived from any foreign exchange asset …..

      Suggest you to kindly consult a CA.

  • i am pushpinder singh age 25 unmarried small shop on rent yearly income 220000 which itr i fill pls help

      • Pushpinder If you have to file income for FY 2016-17 then you can file ITR 4. its good for small scale business. u should file as per presumptive income ..

  • I am a Salaried NRI . I have not filled any tax for the year 2016 -17 and 2017-18 assuming tax filing is not required for NRI citizen . Please advise should NRI file Tax. If so please advise which form should we select to file the tx for the current year and previous year for which i have not failed.

    I dont have any income in India.

    • Dear Mohamed,
      If you do not have any income in India then there is no need to file taxes in India.
      Kindly read :
      Residential Status – NRI or Resident? & NRI Taxation

      Any income which arise or accrue in India will be taxable in India. This income can be – interest on bank fixed deposits,rents received from property,profit/loss from shares etc.,

      As an NRI you should file income tax returns in India if you meet the following conditions:

      Your taxable income is above the basic exemption limit of Rs 2.5 Lakh (OR)
      You have earned capital gains (short term/long term) from sale of any investments (like shares,property,mutual funds etc.,)
      You have to claim a tax refund
      You have a home loan and want to claim tax benefits

  • Hi Sree

    This may be a silly question.

    Can i file ITR for AY 2012-2013 now?Is there any act/rule or specific form type that allows me to do that?
    Or any glimpse of hope that i can hold on to.

    What is u/s 192(2)(b)/92cd? Can this be used to file previous years returns. ?

    • Dear Vishnu,
      Sec 192(2) refers to – where procedure has been laid down for condoning which means pardoning or forgiving such ITR return filing delays and how to get these processed. It can be a lengthy process.

      As per the last Budget 2017-18 :
      In the FY 2017-18, up till 31st March 2018, one can file return for the previous two financial years ie 2016-17 and 2015-16. However, this process will change when you file your returns in the FY 2018-19 as you will be allowed to file returns for FY 2017-18 only and not any other previous years.

      So, suggest you to kindly consult a CA in this regard.

  • Dear Sree

    My wife( a housewife) has incomes from Long term Capital Gains, dividends from mutual funds and interest from Fixed Deposits and Savings account. Out of these incomes, to my knowledge , incomes from Interests (both from Fixed Deposits and Saving Account) are taxable. However, in the Fin year 2016-17 she also received proceeds from life insurance policy from Bajaj Allianz which is tax-exempt under Section 10(10)d.

    Now my problem is how/where to indicate these tax-exempt incomes in ITR-1 form and where(i.e.by filling which columns in ITR-1) to claim the respective exemptions. Please advise.

    SP SINGH

    • Dear Mr Singh,
      Under Part-D of ITR 1, one can disclose the exempted incomes.
      For ex : Section 10 (38) is for exempted long term capital gains.
      Sec 10(34) is for exempted dividend income.

  • Hi Sree

    My father is a NRI. He hold a NRO savings account.Bank had deducted TDS on the interest earned in this account.
    The interest earned is less than 1 lakh and he dont have any other source of income in India.

    Since this is less than the taxable income i think the TDS deducted can be refunded while filing ITR.

    My Question is
    1. My father wishes to close this NRO account to avoid further deductions in future.So can the refund be credited to my bank account or Can i give my bank account details for his refund to be credited(im an Indian resident.)

    2.Will it cause the ITR to be rejected or delayed ?

    • Dear Vishnu,
      Yes, he can claim the TDS as Refund by filing income tax return.
      Suggest him to maintain the bank account till he gets the refund, as he has to provide at least one bank account details in the ITR form to receive the refund directly.

      • Thanks Sree for your reply.

        I have another issue now. As we came to know later about this we actually couldn’t submit ITR for AY 17-18 before due date.
        As of now I have filed his ITR but since he doesn’t have an Aadhar card or netbanking I couldn’t e-verify it.

        1. My father is currently not in India, so I’m planning to email the ITRV to my father so that he can print, sign and then send the scanned copy.My question is will they accept the scanned copy ?

        2. He may come in April, and I thought since I have 120 days to send this ITRV by post, it will be okay to wait so that I not need to send scanned copy.But after the new budget i came to know ITRs which are filed late will loose the benefit of 80 TTA. Does this rule applicable from Apr 1 2018?

        • Dear Vishnu,
          1 – Yes, I believe that he can submit the physical ITR V copy.
          2 – Suggest you to submit the ITR V as early as possible. (80TTA thing, looks like it is a fake news!).

            • Dear Vishnu,
              In case, you have received a msg on Whatsapp/FB (Social Media) that as per Budget 2018 – If Income Tax Return is not filed within due date, the entire Chapter VI deductions will not be allowed which includes some of the popular deductions i.e. Section 80C, Section 80D, etc. then note that it is just a rumor / mis-interpretation.

              Finance Budget 2018 has not made any changes in relation to claim of such deductions….

              Whatever amendment that has been mentioned in the Budget is w.r.t Part-C of Chapter VI only.

              Kindly note that Tax Deductions like Sec 80C/80D/80G/80DDB etc., are under Part-B of Chapter VI.

  • Im without taxable person… i love having a itr
    So how can i apply sir and what forms its needed to apply online

  • Dear sir,
    I am an NRI and i am investing in equity and mutual funds through my wife resident account. she has no other income in India except some fixed deposit interest ( less than rs 20,000) and some short term capital gains.I have transefered around 4 lakhs from my NRI account to her resident account for equity and mutual fund trading.please help me with following

    1) do i need to submit ITR-2 for my wife. where should i show this 4 lakh in it.

    2) short term gains earn in my wife account-should i need to mention in both ITR ( mine and my wife ITR)

      • Thanks sreekanth

        1) so i will not enter any STCG in her ITR and only mention in Exempt Income shedule
        is it the following column i need to fill in the schedule

        “” 5 Others, including exempt income of minor child ”

        2) i need to add my wife STCG along with mine in my ITR. am i right

  • hi

    i have incomes from private tutions, FD interests and MF dividents. Which ITR is applicable for me to file return

  • Sir, I am filing return presumptive income form 4 Sugam. Now I am going to have LTCG also. Please suggest which form should I file

  • dear sirikanth i have sold 40 in no reliance niftee bees on 6 oct17 .it is is a equity scheme/share as agreed by anand rathi stock broker also.but same has not been deducting STT from them. their local office says that ETF rules are different and indexation is allowed.
    2,as per IT rule equity is tax free if only STT is deducted,as shown in exempt income column of ITR2,on which STT is deducted.provided same is kept for more than one year.
    3,in view of above ,i seek clarification from your end,how equity ETF are taxed,if STT is not deducted from them
    warm regards yashpal singh rana
    broker -anand rathi

    • Dear yashpal ..I believe that STT is not applicable for Gold & Liquid ETFs only.
      Equity ETFs do have STT.

      As per Budget 2014, the STT charge on redemption of mutual funds or ETFs (exchange traded funds) at fund counters is reduced from 0.25% to 0.001%, while STT on sale of MFs or ETFs on stock exchanges is cut from 0.1% to 0.001% levied only on the seller.

      • Dear srikanth many thanks for your prompt reply,my problem is that broker is not deducting stt in etf .for exempt income stt should be main issue as per ITR2.where should approach to address my problem.thanks and regards

  • Hi Srikanth,
    I have income from salary+savings account interest+FD interest+Dividend from shares+Long term gain from equity+Short term gain from equity.All these incomes in total is less than 2.5 lacs.Dividend is 2138,LTCG is3826 and STCG is 12678.I have filed ITR 1. Is this correct or I should revise ?
    Please advise.
    Thanks,
    DEVI C

  • Hi,

    Myself Nil. By profession I am a software developer. Apart from job i do also freelancing. While submitting tax for AY 2017-18, I have filed the ITR -4(S) to declare my freelancing income under 44ADA and also declared my salary income. I have also paid advance tax apart from my TDS(s). But now I am confused whether being salaried person filling up ITR-4(S) will be considered as defective. Should I have filed up ITR-2? But ITR-2 doesn’t have any exemption like ITR-4(S) provides for freelancers. Please answer.

  • Hi
    i have got salary till may 16. full and final amt has been credited in my account in jul 16. then i have start work as freelancer (loan and insurance adviser). which itr form i have to use?

  • Dear Sreekanth, I have 2 queries:

    1. I have a Under construction property whose possession I am going to get in november 17. Which form should I fill to get full deduction on Interest paid for home loan. ITR-1 does not have any option for claiming loss on interest paid towards home loan.

    2. Last year I had filed ITR-2 for STCL for trading. This year I havent done any trading. Will the loss be carried forward only if I file ITR-2 or it is automatically carried forward for 8 years if you file ITR within due date irrespective of type of ITR form filled?

    Kindly answer my queries.

    Thanks

      • Thanks Mr Sreekanth. I have 1 more query.

        I my 26AS form my previous employer has submitted details of salary credit as 2.5l, but out of this 1L is the component of my F&F settlement which I did not get as they adjusted it against my notice period pay. So they paid only April month salary in actual and tax was deducted for the same. I joined another company in May and they repaid me my notice pay and tax was again deducted against this amount.

        Shall I amend my salary credited details from previous employer and adjust it to only 1 month gross salary for which the tax had been deducted and submitted while filing the return?

        Also, whether notice pay can be exempted?

        Thanks in advance for your help.

  • SIR,
    I AM AN INSURANCE AGENT. MY TAX DEDUCTED AT SOURCE IS RS.6700/-
    WHICH ITR I HAVE TO FILE
    ITR 3 OR ITR 4
    I HAVE NOT MAINTAINED MY ACCOUNTS

    KINDLY ADVISE

  • sir is pdf form ko mai uhdo ya bichau. What is the use of these pdf form. Rather you should give in EXCEL format.

  • Sir, I have one house property income and Long term capital loss on shares (dead loss) which is not carry forward. Pls suggest which ITR is applicable and in which column I will show it?

        • Thx for reply. Pls also suggest LTCL on shares (dead loss, not carry forward) is necessary to mention in ITR, if so, how? LT Loss mention in CG section is carry forwarded automatically.

          • Dear subhajit ..Advisable to disclose LTCL too.
            But there has been a court judgement wherein LTCL on shares/equity MFs can also be set off against LTCG on sale of land/Gold/other capital assets…

  • dear srikanth i purchased fmp on10july 2014 and it was redemed on 10 july 2017.will it br ST or LTCG .it is exactly 3 year.as per rule more than 3 year LTCG and less than 3 year STCG.which catagory it will fall.also i have NCD in deemat after completing it has come to my account.i believe that this income is shown as income from other sources and complete interest is taxable is it correct
    regards

  • hello sir , I have salary income from a private firm and I also provide private tutions ( have shown presumptive income in last year return); which form should i fill to show both the returns.

  • Hi Sreekanth,
    Good Morning ….

    Which ITR to fill for AY 2017-2018, I income from House Rent (1 property), Postal Commission (Postal Agency) & Bank FD Interest?

  • HI Sreekanth,

    I am a salaries person. However i have been filling ITR 4 for carrying forward losses from intraday trading for last 3 years with the help of CA. Last year i have only single intraday trade with loss of Rs 373.

    Which ITR shall i file? If i file ITR1 can i still carry forward losses from previous years in case i do trading this year? or i’ll have to still go for ITR3 even though i have done only one trade? Reason i am asking is because of fees that i need to pay to CA . Please advice. Also let me know if yo know someone who can help me filing ITR 3 at reasonable cost.

    Regards,
    Jay Dhole

  • Hi,

    I have received 1 Lakh from my parents as gift. Can you please tell me in which section of ITR1 should I report it.

    Regards,
    Sharad

  • HI,

    i am a salaried employee with capital gains(sold ELSS Mutual funds) and interest from investment of relative business.

    could you please suggest which ITR form i need to use.

  • While filing online when my entered my 28-digit Aadhaar Enrollment ID was rejected as not valid. But it is!

  • My income chargeable under the head salaries is just crossing 50 lacs, while the total taxable income is just below 50 lacs (49,5 lacs)? Should I file ITR1 or ITR2 ?

  • Hi,

    I am an NRI staying in USA. I paid tax in US on the bonus I received from my company in India. Which ITR I need to file and what details I need to submit to avoid double taxation.

    Thanks,
    Sarath

  • IN A.Y 2017-16, I HAVE INCOME FROM SALARY, OTHER SOURCES & SHORT TERM CAPITAL GAIN (INCL SET OFF FOR B/F SHORT TERM LOSS). WHILE FILING & UPLOADING ONLINE RETURN IN INCOME TAX E-FILING WEBSITE, I AM GIVEN OPTION OF ITR-1 & 4 ONLY. PLEASE SUGGEST WHICH FORM SHOULD I FILE.

  • Dear Sreekanth,

    Tax audit requirement on intraday trading(speculative business) is confusing. Can you please clarify on this, I have speculative loss of 1k on turnover(total value of profit/loss) of 12k. Should I get an audit done on this speculative business? Or is it fine just to mention losses in ITR-3 to carry forward.

  • I bought a under-construction flat and making payment with 1% TDS cut. Yesterday I checked my 26AS , it shows one wrong entry (immovable property for seller). That wrong entry is visible in immovable property for buyer which is correct one. To whom I should contract for removing that entry in 26AS. Was it due to same PAN,TAN number for me or some-thing else

  • Dear Sreekanth,

    My mother is 74 yrs old, and has the following incomes:
    1. FD income from bank
    2. PPF interest income
    3. LIC annuity income
    4. Interest from 54 EC bonds
    5. Dividend income (duration of equities is more than 1 year)
    6. Sale of debt funds (duration of funds is less than 1 year)

    1. She received an interest free loan from her son-in-law for Rs 5 Lakhs. Please advise this should be reflected in which section?
    2. Sum total of all exempt incomes is 7L and taxable income is 5L (both of these amounts do not include the 5L loan). Please advise if ITR-2 should be used.
    3. Additionally, she made a charitable donation of Rs 51 thousand to a temple, for which she does not have the PAN number of the receiver. In which section of the ITR can this be shown?

  • Dear Sir,
    I have income from salary,interest , dividend,long term gain .Also buy back of listed equity(delisted in 2016) STT paid at purchase but STT not paid at buyback as shares transferred directly to company.I have traded in commodity future and made loss.
    Which ITR form shall be filled.
    Thanks & Regards,
    Shridhar

  • For salaried employees, whose income exceeds 50L, should they fill ITR-4 or ITR-2. No capital gain though. Generating XML for ITR-1 fails if income more than 50L

  • Hi Sreekanth
    I have income from Salary, FD interest, savings account interest.
    I have exempt income from Mutual fund dividends, PPF interest.
    There are no capital gains to declare from MFs as i have not sold any for the FY.
    Can I use ITR1 ?
    If yes, whereI declare PPF Interest in “Others” column in EI ?
    And do MF dividends go under Section 10(34)?

    • Dear Harsha,
      Yes, you can file ITR 1 form.
      You can disclose the PPF interest income under ‘Others’ column and Dividend income u/s 10(34)…of Exempt Income section.

      • Hi Sreekanth
        A follow-up query.
        Till last year, we were supposed to use ITR2 if exempt income (MF dividends, PPF Interest) crossed Rs5000. This year, have the rules been changed that we can report this in ITR1 itself ? I dont have any agricultural income or any Capital Gains

        • Dear Harsha,
          I believe that rule for exempt income more than Rs 5k has been removed.
          I have seen tax assessees filing ITR-1 with high value Exempt income, as of now no issues..
          If you do not have Agri income then I think you can file ITR 1 form.

  • Sir,
    I downloaded an Excel utility(ITR-2-PR3 ) during middle of June’17 for e-filing IT return. The excel file was filled up completely & XML file was generated. But due to non-availability of “Exempted Income” data, the .xml file was not uploaded for completing return. Now, after getting “EI” data, I generated a fresh xml file yesterday & attempted upload to complete e-filing. But to my surprise, uploading xml file was refused with a remark “xml file schema not valid” I tried 4-5 times but with same remark every time. Then I downloaded ITR2 afresh & found that Excel utility version has been changed (New: 2017-ITR-2-PR5). There were some important changes in PR3 version, but most detrimental point is that in Chapter VIA page, I was disallowed to deduct expenditure u/s 80D(in my case- around 12,000.00). A new drop-down menu was added u/s 80D from where there were 4 options, e.g, Self & family; self & family including parents; including sr. citizen parents etc. Notable fact is that an individual/sr. citizen are allowed Rs.25000/30000, but in drop-down menu, “Individual” option is absent. Moreover, I was refused validation unless I select one of the 4/5 options. Now, when I selected “self & family”, I was told that I cannot write on a protected sheet & I have to unprotect it first after putting appropriate password which I don’t possess. I don’t know what type joke IT deptt is doing with us at a fag end. Anybody have a solution so that I can generate a xml file from new ITR-2_PR5 ??

    Regards,
    S.K. De

    • Hi,
      Same problem faced when uploading returns via the Java utility. What happens
      is that when section 80 D is filled by selecting any one of the 4 options (Self and Family/Self and Family including Parents/Self and Family including Senior Citizen Parents/Self (Senior Citizen and Family including Senior Citizen Parents)), this option is not saved in the .xml file. If the saved xml file is reopened the option under 80D (entered as one of 4 options above) is not taken into account while computing the tax return. This looks to be a bug in the software version
      Regards,
      Amit P

      • I sent a mail to IT helpdesk today requesting a fruitful solution. They sent prompt reply today evening. I was told to delete all temp. files, history, cookies, browsing data etc & then download ITR2 file. I did that but no change. Same problem persisted. Also in Schedule Part A-General: Line 26(claiming benefit u/s 115H) also creating problem. You cannot select ‘Yes or No’. Does anybody have idea how to unprotect sheet without a password ?

        Regards,
        S. K. De

          • In 2017_ITR2_PR6 (Excel Utility) at Schedule VI-A 80D. Dropdown is not editable. It’s grey! Any help?

            • same issue even in PR6 version. sent e-grievance, they have asked for a screen shot..!! I have sent it today…

              I see some answer that it is working in PR6 – any process to be followed to make it work?

        • Dear shri S K De

          Your Problem:
          Also in Schedule Part A-General: Line 26(claiming benefit u/s 115H) also creating problem. You cannot select ‘Yes or No’.

          Solution: Schedule Part A-General: Line 26(claiming benefit u/s 115H) is having cross linkage with Schedule Part A-General: Line 25(Residential Status). So you first remove your selection in Residential Status. You will notice that now Line 26(claiming benefit u/s 115H) becomes editable. Now select appropriate option in Line 25(Residential Status). And then you will be able to select applicable option in Line 26(claiming benefit u/s 115H) .

          All the best

    • I am also facing same issue, How should we go about filing returns if the system has error. I had sent a mail explaining the same to department hope the reply, please update me if advice/solution is found.

      Regards,

        • I have been sending mail, but no reply. Its is strange how such errors are kept unaddressed and how others would have filed their returns if they had medical insurance premium paid.

      • e-Nivaran had responded to my grievance request , now there is a new version PR6 of ITR2 (old version was 2017_ITR2_PR5)but still the issue is unresolved. Some how, I started exploring the ITR2 workbooks I noticed the new drop-down menu added in u/s 80D changes from grey to green when you go back in PART A-General and re selecting drop down menu of Status (I-Individual,H-HUF) and choosing your appropriate option. This trick work fine in PR5 version (ie., you can select from drop down menu) enter your amt in next column and last column is automatically updated). This trick does not work in latest PR6 version (latest version, ie., it allows to select from drop down menu but the entered amount is not updated automatically in last column).

        Please share if you find any other solution, since tax filing dead line is nearing, I want to use latest version to upload my returns.

        (Also check if you are using windows 7 and above OS & dot net framework is version 3.5 and above)

  • Dear Sir

    I work as Data processing, answering emails , calls and IT related work for an overseas client. Basically I am self employed or data freelancer. Information Technology
    is mentioned in the list of professions in ITR 4S. Am I eligible to file ITR – 4(Sugam) please?. Currently I file returns through ITR 4 (now ITR 3) but it is really
    cumbersome for maintaining various expenses like salary, internet and other work expenses.

    1) If yes, I understand for example to an income of 12 lacs, 50% needs to be considered as profit. So ie 6 lacs. I understand I can futher claim 80C exemptions upto 1.5 lacs and further standard exemption limit of 1 lacs. So in other words, i am liable to pay tax for 6 lacs less 1 lakh (standard deduction) + 1.5 lacs (Tax saving) = 3.5 lacs. Am I getting it right here.

    2) I have been reading various articles regarding this Presumptive tax scheme 44ADA. With my limited understanding, It says for those who have Capital Gains, they cannot use ITR 4S. I am confused regarding this. I have recently done churning of my Mutual Fund Portfolios due to underperfoming funds. Some of the funds I switched to better performing funds while for some I had to redeem and then again invest in performing ones. Since I have switched and redeemed funds, I believe it is considered LTCG , so am I not eligible to file my returns through ITR 4S.

    3) Lastly what is the last date for filing returns for ITR 4S. I think it is 31st July but it also says somewhere (sorry if i am wrong, i have read so many articles and my unexpert mind cannot absorb more), you have to pay all advance by March 15th at one stroke. So for example, if I am filing my returns for this year 2016-2017, I should have paid by 15th March 2017. Am I right on this please?

    Thank for your inputs in advance (Sorry for the long post)

    Vikas

    • Dear Vikas,
      The last for filing your income tax return is 31st july. You are referring to Advance Tax.
      The capital gains on MF redemptions are based on holding period. Kindly go through this article.
      Suggest you to take help of a CA and file your ITR.

  • Hi, Please tell me Which ITR to be used if the income from salary is more than 50 lakhs and have bank interest 100000.

  • Now ITR 4 has been changed to ITR 3 for business or profession , but how could we import XML file. Whether we should download XML file for ITR 4 of 2017-18 or ITR 3 for 2016-17 AY’s . Please clarify me….I need clarification because It is saying wrong AY or Wrong ITR

  • I am a salaried person and i have opened demat account for investmen purpose but done intraday 3,4 days only by mistake sell value 80k.
    I don’t want show this as business income. Can I show this income in short-term capital gain. I am filing my return 1st time .

  • Hi,

    I have salary income as well as interest income.

    Last year I have filed Form 2A as there was exempted income of Rs. 2 Lakh.

    This year I fall under the category of Form 1.

    Do I need to file Form 2 (as Form 2A is discontinued) or shall I file Form 1.

    Please guide me.

    • Dear Champaka,
      ITR form type is applicable based on your sources of income and other points as given in the article.
      It is not necessary same form type is applicable every Financial year..

  • HI Sreekanth,
    I have a query related to the procedure for investing in debt mutual funds.
    – I want to invest in debt mutual funds and i want to fall under window for LTCG (investment for more than 3 years)
    – Please advise options for monthly and lumpsum investments
    – As per my understanding, i can fill ITR1 if LTCG is less than some threshhold and indexation benefit would be applied

    fyi, i am in 30% tax bracket and a long term investor. I already have other investments in equity related MF schemes like icici value discovery/sbi blue chip/hdfc midcap.

    Thanks

      • Hi Sreekanth,
        Thanks for your response.
        Since i have investment horizon of 3-5 years, i have zeroed in on following dynamic funds:
        Birla Sun Life Dynamic Bond Fund – Direct Plan (D)
        HDFC High Interest Fund – Dynamic Plan (QD)

        – Please suggest if my choice is OK. I hope these funds pay DDT.
        – From your mentioned blogs it is not clear where to show LTCG for debt mutual funds. As per my understanding, tax on LTCG will be 20% after indexation benefit. Please advise if i can show this LTCG in “Income from other sources” in ITR1 and calculate the tax and pay a self assessment tax.
        – By looking at your blogs, my understanding is that MIP funds are like balanced funds having more of debt portion. While dynamic funds are pure debt funds. No equity exposure. Please confirm.

        • Dear Saurabh,
          Birla dynamic bond fund returns are fine but it has a very high RISK grade.
          Same is the case with HDFC Fund.
          If you have capital gains then ITR 1 form can not be filed.
          You need to disclose the capital gains under the relevant section of ITR 2.
          Your understanding on MIPs is correct (they are balanced – debt oriented funds).

          • Sreekanth,
            I have selected both the funds from your suggested list of funds from article best debt funds :-).
            Can you suggest any other fund?
            My understanding is that dynamic funds are more safer as compared to MIP funds (because of no equity portion). please confirm.

            Thanks.

            • Dear Saurabh,
              Your understanding is correct.
              These are good funds but with higher risk and higher returns proposition..highlighted this point.
              Also, need to update the Debt funds post or I have to publish a new review!
              UTI Dynamic bong has also been performing well.

                • Hi Sreekanth,

                  I was going thru your following blog: MIP funds..
                  But i noticed that there is no option for adding queries. Not sure why. Adding my query in this post.
                  I want to purchase birla sun life MIT Savings 5 fund for lumpsum investment. Investment period – 3+ years. Please advise your suggestions. I am looking for a alternate of FD with least risk.

  • Dear Srikanth
    For housewife having tuition income of 80000 and interest income of 60000 which itr should be used.
    Regards

  • Sreekanth

    is there any way to cliam loss of STCG and speculative loss by filing belated return.

  • Dear Srikanth,
    I have Salaried Income+Bank Interest+Short Term Capital Loses and Speculative/Intraday Loses, can you please advice which ITR form I should use to submit IT returns. Also please clarify should I include interest on tax saver FD’s earned during FY16-17 or just declare interest earned on savings accounts only while declaring interest earned.

    Regards,
    Kishore Kumar Reddy

      • Dear Sreekanth,

        Tax audit requirement on intraday trading(speculative business) is bit confusing. Can you please clarify, I have speculative loss of 1k on turnover(total value of profit/loss) of 12k. Should I get an audit done on this speculative business? Or is it fine just to mention losses in ITR-3 to carry forward.

        Regards,
        Kishore Kumar Reddy

  • Can I file ITR 2 online ? Where can i download the Excel for AY 2017-18 for ITR 2

  • I have income from Fixed deposit interest and income from sale of under construction flat ( long term capital gain). While trying to file on line return options of only ITR 1 and ITR 4 is for online filing. In ITR 1 no option for capital gain and same in ITR 4. Please suggest which ITR to be filed online for AY 2017-18

  • Hi Srikanth,

    Thanks for the informative site, Need your advice to choose ITR form for my father.He has income through pension and FD interest.He has also invested in shares but in 2016-17 FY he has earned losses.

  • Dear Srikanth,
    I am salaried person. I have two houses, one is self occupied on which i get HRA. Other house is let-out. I have LTCG due to redemption of equity oriented MF, which i presume is tax exempt.
    Please advise which ITR form i should file?
    Thanks & regards.

  • Hi Mr Sreekanth, I am not working and my earning is only through Fixed Deposit Interest. However TDS as been deducted . Since my deposit along with accrued interest is not crossing Rs.2.5 lakh , kindly suggest how to claim the refund and the ITR form to be filled to apply online.

    Also it would be helpful if you can guide on which all fields to be filled by me in the ITR form while submitting. Looking forward for your support.

    • Dear Rinku .. You can mention your total income under the head ‘income from other sources’ , claim any tax deductions (like under Section 80c/80D etc) and then can file your ITR with a Refund (if any) claim.
      Suggest you to visit e-Filing portal, Login with your credentials and can file ITR 1 form online (its very simple and easy).
      You may kindly go through this Article…as a reference..

  • Dear Sh Sreekanth,
    I am a pensioner.Apart from pension I have monthly interest from post office deposits.I also have interest from 5 years NSC certificates which are matured.Kindly let me know under which head account I should show the interest received on post office deposites and also the applicable ITR form to be filed.

  • Dear Srikanth
    I have income from salary and bank interest. I believe I can use ITR 1. But where can I show the PPF exempt interest income of Rs. 57000 in ITR1. What should I mention for that.
    Regards

  • Dear Sreekanth,

    Thanks for having this discussion on board and I am sure like me, many would be benefited from this discussion. I had below income in FY 2016-2017:

    1. Salaried(30 % slab)
    2. Interest from bank 24k
    3. Short Term Capital gain(by selling equity shares): 2k
    4. Income from Intraday trading: 2k
    5. Long term capital gain(by selling equity shares): 2.5k

    Could you please suggest me which ITR form I should select? As you know this year only ITR 1 and ITR 4 are available in ITR Online site.

    Thanks,
    Rahul

    • Dear Rahul,
      Income from intraday trading in shares is treated as speculative business income as the transaction is settled without delivery.
      You may have to file ITR -3 form.
      You need to download excel utility, complete it, generate XML file and upload it. You may then e-verify it.

        • Hi Sreekanth,

          With your guidance I have selected the ITR3 and about to e-verify. Before that need your clarification. My speculative (intraday trading) income just Rs. 1400 after expense deduction. And I have entered this in speculative business income section. I had not entered anything in “Balancesheet” and “Profit and Loss” section as I did not get proper matching information for speculative business. Is this OK? I did not get any error while uploading.

          Thanks,
          Rahul

      • Hello sir,

        Follow up question:
        Does ITR3 still applied if someone has done intraday trading only 1-2 times. Either profit or loss.
        Which ITR applies for future trading? In this case one can buy lot and sell before expiry and carry forward.
        Do we need to get this verified from CA considering the fact that we are filling IT3 showing speculative income?

        Regards,
        Jay

          • Thanks Sreekanth. I asked this for the fact that I am a salaries person. I did few intraday trades with profit around rs 280. Has received around rs 250 from bank interest and rs 85 as dividend.

            Regards,
            Jay Dhole

  • “Only those forms can be used to prepare tax liability online and file online. For other forms, one needs to download excel/java utilities, prepare the tax return and then upload them in efiling website”
    The above is on of your answers, I tried and failed as the I get a message about the form being protected and asking for password..
    Could you please give me a step by process for this activity for downloading and filing on line.
    Thanks

  • Dear Sir

    How the LIC maturity amount will be shown under Exempted income in ITR-1?

    Could we show LTCG from mutual funds under section 10(38) in ITR-1 as exempted income or we need to file ITR-2?

    Regards
    Maninder

    • Dear Maninder,
      No need to file ITR -2 form. You may just disclose the mentioned exempted incomes in ITR 1 itself.
      LTCG exempt under section 10(38).
      LIC Policy maturity proceeds can be reported under ‘Others’ column.

  • Dear

    I am salaried person with annual income exceeding Rs.50 lakhs. I have no income from business or profession. The only other income I have is from interests from FDs and dividends from MF

    I understand that I can file my return in ITR – 2 but the e- filing portal shows option for itr 1 or 4 only.

    Can you please advise me how I should proceed ?

    Thanks in advance.

    • Thank you so much for bringing in clarity.

      While preparing to file, note that under AL – Financial Assets column of ITR 2, only Bank related details are required to be shown. Does this not apply for the deposits I have with other institutions like Post Office, HDFC, LICHFL etc and also other investments such Tax Free Bonds etc ?

      I must really thank you for your great service. God Bless.

      • Dear VISWANATHAN,
        At present, details of assets and liabilities to be provided under “Schedule AL” is more exhaustive for those using ITR 3 an ITR 4.
        You may disclose the details under ‘Shares & Securities column..

  • Dear Mr. Sreekanth

    I’m a salaried person and I want to know that cash deposited in Bank account during demonetization period should be considered as income to be added in gross total income of the F.Y. 2016-17 or not?

    Please guide upon the subject

    Thanks.

  • dear srikanth i am defence person drawing pension,this year my pension was above 5lakh and tds was deducted.when i recieved form16 bank has given their address as employer i.e shown me their employee.on enouiry they have told that for pensioer this is procedure .on earlier IT return i used to show navy as employer.i am totally confused ,who i show employer in my IT return.do you have any idea about it
    regards

      • dear srikanth thanks for reply ,who i show employer in my tax return
        regards

        • Dear Yashpal ji..If you are filing ITR 1, there is no need to mention your employer’s name. In case, TDS gets deducted, you may provide those details and mention the TDS deductor’s name .

          • Dear Sreekanth Reddy,

            Thanks for your reply. I am now facing a new problem as mentioned below.

            I am filling ITR-2 after downloading excel utility from income tax website and converted into xml file but when I tried to upload xml it gives error of “uploading xml in latest utility”.Can you please help.

            Warm Regards

  • Dear Sreekanth,

    First 3 Quarter i am working as a salary man in different company and in 4th Quarter i am working as a consultant in different company, Which form i can use please help me on this

    Thanks & Regards

  • Hello Sir,
    I am confused on which ITR to use in below case 1) Income from Salary is 20 lacs 2) Income from LTCG from sale of shares is 31 lacs. In this case should I use ITR 2 since total income is > 50 lacs?

      • Dear Sreekanth

        Thanks for the reply. Does this mean that the maximum limit of Rs 50 lac for filing ITR-1 is only on taxable income and not total income including exempt income? The wording is ambiguous and subject to interpretation…

        Best Regards
        Naveen

  • Dear Sreekanth,

    Thanks for your lovely article.

    Last two assessment years, I was filing ITR 4 as I had a proprietory business.

    This assessment year, I also started a private limited company where I am getting salary for being managing director as well as income in the form from business. Now which ITR shall I file for personal return – I am confused because I am getting salary as well as income from company business. Please advise.

    Thanks,

  • Hello Srikanth

    My query is I received salary income of 5lacs and also insurance commission income of rs 70000/- please advise on the ITR to be used.

  • I have house property loss (interest ) i.e deduction u/s 24b. I have no other income. Which itr should i fill for F.y. 2016-17. I have aadhar no but its shown as inactive because i have discontinued my mobile no which was given while applying for aadhar. Can i still quote my aadhar no in return? Is it mandatory to quote?

    • Dear SN… Suggest you to update your new mobile number for Aadhaar. You may do it online..
      If you have only one property, you can file ITR 1.Yes, it is now mandatory to quote Aadhaar num.

  • I am Nri living in the UK I closed some recurring deposits in India in 2016. A TDS of Rs.85000 was deducted. What ITR form should I use for claiming refund. I changed my status from resident to Non-Resident in 2016 as I converted my accounts in India to NRO. Also should I use my current address in Uk or my permanent address in India.

    • Dear kulvinder ..If this is the only source of income, you can file ITR -1 .
      As you are expecting a Refund, advisable to provide Permanent address in ITR (provided if anyone is residing in that place).

  • I purchase equity mutual fund rupees 36000/- year 2009. Sell 90000/- , year 2016 December. Is capital gain 54000/- and is it show 10(38) in itr 1 ?

  • Dear Sreekanth,
    I was impressed with your knowledge and the way you guide people. Please tell me about Schedule AL in ITR-2 FY 15-16. Are we supposed to reflect only assets acquired during the FY or total assets as on date. I mean for example I am dealing in MFs and invest about Rs 12 Lakhs per annum. As on todat I have a portfolio of about Rs 40 Lakhs. So what I am to show in Shares and securities? Rs 40 Lakhs or Rs 12 Lakhs invested in the FY?
    Please revert

    Regards

    Nand Shouche

    • Dear Nand,
      Declaration of A&L is mandatory for the tax assessees whose income is above Rs 50 Lakh.
      I dont think declaration of investments in Mutual funds have to be made in ITR – 2 (If at all it needs to be done, it is on cost basis).
      At present, details of assets and liabilities to be provided under “Schedule AL” is more exhaustive for those using ITR 3 an ITR 4.
      Read : Which ITR form to file FY 2015-16?

  • I am a salaried person with no other income.
    i invest in shares and mutual funds but have not sold any shares or mutual funds in the FY 16-17.
    i have got only dividends from my shares as additional income.
    which ITR Form do i fill in?
    ITR 1 or ITR 2 .
    Thanks

  • I am house wife. My husband do trading in stock market behalf of me in my name It has long term and short term profit. and also Loss in f&o options section. Which itr form I have to submit ? Where I can show my f&o loss. My income from all sources not exceeds 2 lacs .

  • Hi Sreekanth,

    Nice article. 🙂

    I file ITR every year by myself only. I was working in India till November 2016 and in December 2016 I moved out of India for work. I received my form 16 from employer starting April 2016-November 2016.

    1.) I wanted to understand do I need to declare (in AY 2017-18) that I moved out of India and earning there. If yes, then what are the necessary steps I have to take care.

    2.) Another thing as my earning is Zero in FY 2017-18 then is it necessary to file ITR of AY 2018-19 because I won’t be having Form 16 or anything like that. ?

    Thanks.
    Mittal.

  • In assessment year 2016-2017 I have business Income and capital gain income which itr form I am fillup.

  • Dr sir, i m a teacher and also a farmer. plz suggest me itr form in which i can show my professional income and exempt agriculture income for AY 17-18. Note:- agriculture income is more than 5000.

  • Dear Sreekanth Reddy Sir,

    I work in a private company . Hence Till FY2015-16 I used to e-filled ITR-1………………..

    I have also done MF SIPs for 7 different AMCs 8 schemes for period 2009-2016 . But on January 2017 I have sold out my all 8 mutual funds schemes in one shot.

    Now my question is that –

    (1) How to calculate SIP gains for each monthly payments , as all redeemed in one go ?

    (2) Please share me the excel sheet , where I can get the capital gains amount (short & long term as per sip dates)

    (3) while e-filing at https://incometaxindiaefiling.gov.in , under the section ‘ PREPARE & SUBMIT ONLINE ITR’ why only ITR-1 and ITR-4 are able to select . Why ITR-2 , ITR-3 is not there ?
    ( But in case of offline fill-up , all ITS are there as XML file)

    Kindly support with your answer specifically as per my queries , as general as could leads to confusion.

  • Hi Srikanth,

    I have non-taxable capital gains and professional income, I would like to utilize presumptive taxation scheme. Can you please let me know if I can make use of ITR-4, to include both the incomes? If not, how do I file return while taking presumptive taxation scheme. Please let me know.

    Thanks,
    Tom

  • In ITR-2, for S.T C.LOSS on redemption of DEBT MF & Sale of Tax Free Bonds; where EXACTLY & how do I have to fill this un ITR-2? Will this S.T C.LOSS be adjusted automatically against any STCG for Equity shares?

  • Hello sir,

    I am a salaried person, i invest part of my salary on mutual fund,NSC,LIC products. would you please guide which form should i fill?

    From your description i think i should fill ITR1 or ITR2. kindly correct if i am wrong.

  • Itr form 3 opening date because ई want file ay 2017 2018 return

    • I wanna 2017 2018 file the return but form 3 is not update please. Inform me when I filing return. When opening date

  • I got around 3ooo rs/- as short term capital gains from liquid funds redemption. I fall in lowest tax slab. Do I need to show these in my ITR and file ITR-4 or ignore this amount and proceed with ITR-1. (No TDS on this STCG).

  • Dear Sreekanth,
    Till AY2016-17, I have used ITR-1. From Jan2017, in addition to salary, I get pension (less than 1 lakh per annum) from LIC Jeevan Suraksha Policy. LIC have not deducted any TDS in FY2016-17. I have paid adv tax. (1)Can I continue to use ITR-1. (2) If so, ITR-1 form says ‘ensure to fill TDS1’. There is no TDS1 for pension portion.
    K.Gopal

  • Kindly note that it is now mandatory to quote your Aadhar number / Aadhar Enrollment ID and also disclose Cash deposits of more than Rs 2 lakh made during demonetisation period ( HOW IT IS SHOW SIR IN ITR

    • Dear RAJESH ..For example, in ITR 1 Form, under Part A General information, you can provide Aadhar number / Enrollment ID.
      Under Part E, you can disclose the information related to Cash deposits.

  • HI SIR

    IF ANY PARTNER HAVE AGRICULTURE INCOME MORE THAN 5K THEN WHICH ITR FORM CAN BE FILLED

  • Some things yet to be clearified.Which form firm can use to file preservative income and how to claim salary and interest paid to partner.Some says that this is not allowed if so why whereas in trucks income it is allowed.

  • Dear Sree, another great article from you!
    I had Google Adsense income, eBay seller income, salary income, FD and NSC income in FY 2016-17. Which form should I use in AY 2017-18?

      • Dear Sree, I’ve declared my ebay+FD+Adsense income under “income from other sources” using ITR-1 in FY 2015-16, as they are not my primary income. Should I re-submit the ITR for that previous FY? I didn’t hide my income, just declared using ITR-1 sahaj.

  • Hi Shreekanth,
    Thanks for the article.
    I have a query related to Exempt income.
    As per my understanding, we can include following under exempt income:
    – Mutual funds dividends
    – Interest income from tax free bonds
    – PPF Interest (not sure if this should be part of exempt income. plz confirm)
    – SSY interest
    – Interest income from Bank FD’s
    – Income from sale of Mutual fund units (after 1 year)

    Please let me know if we can include any other income here.

    Thanks

    • My mistake in the query. income from fd’s should not be part of this list. Please let me know about the rest. Specifically about PPF/SSY, whether we should include there interest income or not. Also, is there any cap on the exempt income amount that can be show in sahaj form1. Thanks.

  • Hi Shrikanth,

    I have income from salary and LTCG from sale of equity mutual fund on which there should be no tax because they were held more than 1 year. can I file ITR1 itself as noe it has provision for declcaring exempt LTCG or I need to file ITR2?

    Regards,
    Ashu

  • Hi Sreekant,
    If a person is earning through coaching at home but not maintained proper records. Which form he should use to filling ITR.

  • Hi Shrikanth,
    I have taxable capital gains. Also, I run a profession with presumptive Income.
    Which ITR should I file.
    Regards,
    Sandeep

  • hi
    I have salary income +interest income+exempt income(my PPF)+exempt income of minor child(her PPF&SSA).I have no tax for FY 2016-2017. Which ITR should I file.

  • Hi Srikanth,
    along with salary, I have income from shares in intra day and short term capital gains. which ITR form I have to use.
    Please advise.

    Thanks,
    Prathap.

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