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ITR Filing in Amritsar
Income Tax Return (ITR) is a prescribed form through which an assessee reports income details, tax liability, and tax paid to the Income Tax Department of India.
The applicable ITR form depends on:
- Nature and source of income
- Amount of income earned
- Category of taxpayer (Individual, HUF, Firm, Company, etc.)
As per the Income Tax Act, 1961 and Income Tax Rules, 1962, filing of ITR is mandatory every financial year if prescribed conditions are met.
Who Needs to File Income Tax Return?
You must file ITR in India if any of the following conditions apply:
Income-based criteria
If your Gross Total Income (GTI) exceeds:
> ₹2.5 lakh – Individuals below 60 years
> ₹3 lakh – Senior citizens (60–79 years)
> ₹5 lakh – Super senior citizens (80 years & above)
Other mandatory conditions
You have multiple sources of income (salary, house property, capital gains, etc.)
> To claim income tax refund
> You have foreign income or foreign assets
> For visa processing or loan applications
> If you are a company or firm (mandatory irrespective of profit or loss)
Types of ITR Forms Applicable
ITR-1 (SAHAJ)
Applicable for Resident Individuals having:
- Income from Salary/Pension
- Income from One House Property
- Income from Other Sources (excluding lottery/race horse winnings)
- Agricultural income up to ₹5,000
- Total income up to ₹50 lakh
Not applicable if:
- Income exceeds ₹50 lakh
- Capital gains or business income
- More than one house property
- Director in a company
- Investment in unlisted equity shares
- Foreign income or assets
- RNOR or Non-resident
ITR-2
Applicable for Individuals/HUF having:
- Salary or Pension income
- House property income
- Capital gains
- Other sources (including lottery/race horse income)
Applicable when:
- Total income exceeds ₹50 lakh
- Director in a company
- Investment in unlisted shares
- Foreign assets/income
- Agricultural income above ₹5,000
❌ Not applicable for business or professional income.
ITR-3
Applicable for Individuals/HUF having:
- Income from business or profession
- Proprietorship business
- Partner in a firm
- Salary, house property, capital gains, and other income (along with business income)
ITR-4 (SUGAM)
Applicable for Resident Individuals, HUFs & Firms (except LLPs) opting for Presumptive Taxation under:
- Section 44AD
- Section 44ADA
- Section 44AE
❌ Not applicable if
- Income exceeds ₹50 lakh
- More than one house property
- Foreign income/assets
- Director in a company
- Unlisted equity investment
- Carry-forward losses
ITR-5
Applicable for:
- Partnership Firms
- LLPs
- AOP / BOI
- Estate of deceased or insolvent
- Business trust
- Investment fund
ITR-6
Applicable for Companies, except those claiming exemption under Section 11 (charitable/religious trusts).
- Mandatory electronic filing
ITR-7
Applicable for entities filing returns under:
- Section 139(4A) – Charitable/Religious Trusts
- Section 139(4B) – Political Parties
- Section 139(4C) – Research associations, news agencies, institutions
- Section 139(4D) – Universities/Colleges
- Section 139(4E) – Business Trusts
- Section 139(4F) – Investment Funds
Documents Required for ITR Filing in Amritsar
- PAN Card
- Aadhaar Card
- Form 16 (for salaried individuals)
- Salary slips
- Form 26AS (Tax credit statement)
- Form 16A (TDS on interest, rent, commission, etc.)
- Capital Gain Statement (shares, mutual funds, property)
- Bank statements
Registration on Income Tax e-Filing Portal
Steps:
- Visit: https://www.incometax.gov.in
- Click on Register
- Select user type
- Enter basic details
- Verify PAN
- Activate account
Procedure for ITR Filing in Amritsar
Offline Filing
Applicable for:
- Super senior citizens (80+ years)
- Individuals/HUF with income below ₹5 lakh and no refund claim
Steps:
- Fill paper ITR form
- Submit to Income Tax Department
- Receive acknowledgment
Online Filing (e-Filing Portal)
- Calculate tax liability
- Verify TDS details via Form 26AS
- Select correct ITR form
- Login to e-filing portal
- Fill details using online or offline utility
- Validate & submit return
- Complete verification using:
- Aadhaar OTP
- EVC
- Net banking
Why File ITR in Amritsar?
Filing ITR helps in:
- Easy loan approval (home, vehicle, business)
- Claiming tax refunds
- Income & address proof
- Faster visa processing
- Carry forward of losses
- Avoid penalties (up to ₹5,000 for non-filing)
Why Choose CA Kapoor for ITR Filing in Amritsar?
- Experienced Chartered Accountants
- Accurate form selection & tax planning
- On-time filing & compliance
- Affordable & transparent pricing
- Personalised assistance