5 questions. Definitive answer. FY 2025-26 / AY 2026-27
Pick the option that best describes the taxpayer.
| Form | Who files | Income types | Key limit |
|---|---|---|---|
| ITR-1 (Sahaj) | Resident individual | Salary, 1 HP, interest, LTCG ≤ ₹1.25L | Total income ≤ ₹50L |
| ITR-2 | Individual / HUF | Capital gains, foreign assets, multiple HPs, NRI | No business income |
| ITR-3 | Individual / HUF | Business or profession with regular books | No income limit |
| ITR-4 (Sugam) | Resident individual / HUF / Firm (not LLP) | Presumptive income 44AD/44ADA/44AE | Total income ≤ ₹50L |
| ITR-5 | Firms, LLPs, AOPs, BOIs | All income types | Entity-specific |
| ITR-6 | Companies (not claiming Sec 11 exemption) | All income types | Entity-specific |
| ITR-7 | Trusts, political parties, institutions | All income types | Entity-specific |
From AY 2026-27, long-term capital gains from listed shares and equity mutual funds up to ₹1.25 lakh (with no brought-forward losses) can be reported in ITR-1. Many salaried investors with modest SIP redemptions can now stay on ITR-1.
ITR-4 filers (presumptive scheme) can also report LTCG from listed shares or equity mutual funds up to ₹1.25 lakh — without being forced to switch to ITR-3. Previously, any capital gains required ITR-3.
Salary, FD interest, and LTCG from equity SIP redemptions below ₹1.25 lakh qualifies for ITR-1 from AY 2026-27.
Any property sale generates capital gains that must be reported in ITR-2, regardless of whether the gain is taxable.
An architect or CA whose gross receipts exceed ₹75 lakh cannot use the presumptive scheme and must maintain full books and file ITR-3.
A general practitioner with receipts under ₹75 lakh (95% digital) can declare 50% as income and file the simplified ITR-4.
A HUF cannot file ITR-1. The minimum form for any HUF is ITR-2, even for simple rental or interest income.