Which ITR Should a INDIVIDUAL/HUF File

Types of ITR

Following are the various types of ITR

1.  ITR 1

Individuals residing in India with a total income of up to Rs 50 lakh are eligible. An NRI is unable to file an ITR-1. ITRs may be filed using Form 16 by salaried taxpayers.

2. ITR 2

Individuals and HUF for revenue from sources other than their enterprise or occupation. Individuals and NRIs who earn money from a job, a home, capital gains, or other sources may file Form ITR-2.

3. ITR 3

Individuals are required to disclose their earnings from a company or occupation. Salaried people who earn money from the intraday stock exchange or futures and options trading should file Form ITR-3.Individuals may use ITR-3 to record revenue from jobs, real estate, capital gains, company or trade (including presumptive income), and other sources.