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Q.

Which ITR Form for Housewife?

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7 months

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0 2024-11-27T09:30:22+00:00

I, as a housewife, struggled to get a proper answer about which ITR for housewife without income should be filed, so I took help from a tax consultant. That is when I learnt that the ITR form that a housewife has to file depends on several factors like income type, amount of yearly income, investments, and others. Different types of ITR forms are applicable to housewives so let me list them next in detail.

Which ITR to File for Housewife?

Here is a list of various ITR forms applicable to housewives and when:

Type of ITR to File

Condition 

ITR 1

a total annual income not exceeding Rs. 50 lakhs from one house property or other sources such as interest

ITR 2

has income from more than one property or capital gains on shares and mutual funds

ITR 3

has some income from business/profession/freelancing and is not eligible to file ITR-1

ITR 4

opts for presumptive taxation

This should be enough to help you understand for housewife which ITR form will be suitable and under what conditions.

Consult with NoBroker’s Legal Experts for any Tax-Related Query 

Read More:

Can we File ITR After 31st July?

0 2024-06-26T11:40:02+00:00

Wondering which ITR for housewife without income is applicable? Housewives in India, like any other individual, may need to file Income Tax Returns (ITR) depending on their income sources and amounts. Choosing the correct ITR form is essential for accurate and compliant filing.

Here’s a detailed guide on which ITR form housewives should use. The appropriate ITR form for a housewife depends on her income sources. Common scenarios include:

  1. Income from Savings: Interest from savings accounts, fixed deposits, or other investments.

  2. Rental Income: Earnings from letting out property.

  3. Other Income: Income from freelance work, small business activities, or family investments.

Which ITR Form to File for Housewife?

ITR-1, also known as Sahaj, is suitable for housewives if:

  • Total Income: Their total income does not exceed ₹50 lakhs.

  • Income Sources: They have income from salary/pension, one house property, other sources (like interest income), and agricultural income up to ₹5,000.

  • Exclusions: They should not have income from more than one house property, capital gains, or business/profession.

Housewives should use ITR-2 if:

  • Income Sources: They have income from more than one house property, foreign income, or capital gains.

  • Total Income: There is no upper limit on total income, making it suitable for those with higher incomes from the above sources.

  • Exclusions: They should not have income from business or profession.

ITR-3 is applicable for housewives if they have income from business or profession along with other incomes (like rental or investment income).

I hope this solves your query for housewife which ITR form. Now, let’s check out:

Filing Process
  1. Gather Documents: Collect all necessary documents, such as bank statements, Form 16A (if any), rent agreements, and proof of investments.

  2. Choose the Form: Based on the income sources, select the appropriate ITR form (ITR-1, ITR-2, or ITR-3).

  3. Fill and Submit: Fill the form accurately with all relevant details and submit it online through the Income Tax Department’s e-filing portal.

Housewives need to select the correct ITR form based on their income sources and amounts. For most with simple income structures, ITR-1 is usually sufficient. However, those with more complex income streams should consider ITR-2 or ITR-3.

Proper filing ensures compliance with tax laws and avoids potential penalties. This is all about

which ITR for housewife without income is applicable

.

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