Who Needs to File an Income Tax Return in Ahmed Nagar?

Under Section 139(1) of the Income Tax Act of 1961:

• Companies & Firms: Every company and partnership firm must file a Return of Income for the preceding year's income or loss.
• Individuals & Other Entities: Any individual, HUF, AOP, BOI, or Artificial Judicial Person whose total income exceeds the maximum amount not chargeable to Income Tax must file a Return of Income.

Types of Income Tax Return Forms

• ITR 1: For individuals with income from salary and interest.
• ITR 2: For individuals and HUFs without income from business or profession.
• ITR 3: For individuals/HUFs who are partners in firms but do not carry on business or profession as sole proprietors.
• ITR 4: For individuals and HUFs with income from a proprietary business or profession.
• ITR 4S: For individuals and HUFs with presumptive business income.
• ITR 5: For firms, AOPs, and BOIs.
• ITR 6: For companies other than those claiming section 11 exemption.
• ITR 7: For entities required to file returns under sections 139(4A), 139(4B), 139(4C), or 139(4D).