ITR 1 and ITR 4 were available earlier. Now ITR 2 is also available for e-filing for FY 2019-20.
For most people with Capital gains, ITR 2 is the applicable return.
Even for NRIs, the most common return is ITR 2.
For easy reference, details below on people who can use ITR 1, 2 and 4.
ITR 1 - For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5000 (Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)
ITR 2 - For Individuals and HUFs not having income from profits and gains of business or profession
ITR 4 - For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE
(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)
Go ahead and file your returns early so you can get refund quickly!
For most people with Capital gains, ITR 2 is the applicable return.
Even for NRIs, the most common return is ITR 2.
For easy reference, details below on people who can use ITR 1, 2 and 4.
ITR 1 - For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5000 (Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)
ITR 2 - For Individuals and HUFs not having income from profits and gains of business or profession
ITR 4 - For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE
(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)
Go ahead and file your returns early so you can get refund quickly!