ITR forms are the prescribed formats (ITR-1 to ITR-7) for filing an income tax return in India, chosen based on who you are and what income you earn. For FY 2026-27, salaried ITR-1/2 filers had a 31 July 2026 deadline (now passed), business filers using ITR-3/4 have until 31 August 2026, and audit cases until 31 October 2026.
Broadly: ITR-1 is for resident salaried individuals with simple income, ITR-2 for individuals with capital gains or multiple properties but no business income, ITR-3 for business or professional income with regular books, ITR-4 for presumptive taxation, ITR-5 for firms and LLPs, ITR-6 for companies, and ITR-7 for trusts. Picking the wrong form is not cosmetic — a return filed on a form you are not eligible for can be treated as defective.
For an MSME owner the usual choice is between ITR-3 and ITR-4. If you declare profits on a presumptive basis under section 58 of the 2025 Act, ITR-4 works and is far lighter. If you claim actual profits with books, or have income that ITR-4 does not permit (such as capital gains above limits or foreign assets), you must use ITR-3. Keep GST turnover, bank statements and TDS credits reconciled before filing.
Common mistake: assuming the salaried deadline applies to everyone. If you missed 31 July 2026 as an ITR-1/2 filer, you can still file belated up to 31 December 2026 with a late fee. Business filers still have the 31 August 2026 window — do not burn it waiting on a CA appointment in the last week.
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More Income tax terms
Reviewed to the law in force in FY 2026-27. General information, not advice — confirm the position for your facts before acting.