Income Tax Return Forms

Important Prescribed Forms Under Income Tax Rule 1962
            Individuals with Salary/ house Property (1)/ Others                                                     ITR-1 Sahaj

Individual/ HUF without Business/ Profession                                                             ITR-2

Individual/ HUF being partners in Firm ( Without proprietorship Business/ Profession)    ITR-3

Individual/ HUF With proprietorship Business/ Profession                                            ITR-4

Individuals/ HUF ( Presumptive Basis)                                                                       ITR-4 S ( Sugam)

Firms, AOPs and BOIs                                                                                            ITR-5

Corporate Assessee                                                                                                ITR-6

Person required to furnish return u/s 139(4A)/(4B)/ (4C)/ (4D)                                       ITR- 7

Classification of Advances

 Classification of Advances:- Classification of advances facilitates under following segments :

1. SECTOR WISE CLASSIFICATION

i)                    Priority Sector :  All advances presently classified as Priority Sector  are required to be reported under this head. Advances granted to the Government under takings/ Public sectors Corporation, Which are engaged in the activity that can be classified as Priority Sector should be classified under this head.

ii)                   Public Sector: - Advances given to Central Government/ State Government / Government Undertakings/ PSU which are treated as public sector are required to be reported under his head.

iii)                 Banks: -All the advances to bank should  be classified under this head . The system will ensure reflection on account under the Banking sector only.

iv)                 Others:-Advances not covered under the above 3 heads will reported uner this head and the system have been customized accordingly.

2. FACILITY WISE CLASSIFICATION :

i)                    Bill Purchase/ Bill Discounted :- Both inland & foreign Bill Purchased or Discounted are t be reported.

ii)                   Term Loans :- Term Loan Facilities being enjoyed by the borrower are required to  be reflected under this head.