The Income Tax Return (ITR) is a document filed by individuals, Hindu Undivided Families (HUFs), and partnerships to report their income earned during a specific financial year and to calculate the tax liability or claim any refunds owed to them. The ITR form provides details of various sources of income, deductions, exemptions, and taxes paid by the taxpayer.

Here is a brief overview of the ITR forms applicable to individuals, HUFs, and partnerships:

Individuals:

ITR-1 (Sahaj): This form is for individuals with income from salary, one house property, other sources (excluding lottery and racehorse income), and total income up to Rs. 50 lakh.

ITR-2: Individuals and HUFs not eligible to file ITR-1 can use this form. It covers income from salary, house property, capital gains, foreign assets/income, and other sources.

ITR-3: This form is for individuals and HUFs having income from business or profession, including partnership firms.

ITR-4 (Sugam): Small taxpayers with presumptive income from business or profession can use this form.

Hindu Undivided Families (HUFs):

HUFs can generally use the same ITR forms as individuals, depending on the nature and sources of their income. The applicable forms are similar to those mentioned above.

Partnerships:

Partnerships are generally required to file income tax returns using Form ITR-5. This form is applicable to firms, LLPs (Limited Liability Partnerships), Association of Persons (AOP), and Body of Individuals (BOI).

The ITR forms may require individuals, HUFs, and partnerships to provide details of their income, deductions, and exemptions under various heads such as salary, house property, capital gains, business or profession, and other sources. The forms also ask for information on tax payments, TDS (Tax Deducted at Source), and any foreign assets/income.

It is important to note that the applicable ITR form may vary based on factors such as the nature of income, total income, and residential status.