Rule 12 -Return of income and return of fringe benefits. 12. (1) The return of income required to be furnished under sub-section (1) or sub- section (3) or sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) or sub-section (4E)or sub-section (4F) of section 139 or clause (i) of sub-section (1) of section 142 or section 148 or section 153A relating to the assessment year commencing on the 1st day of April, 2023 shall,— (a) in the case of a person being an individual who is a resident other than not ordinarily resident and where the total income includes income chargeable to income-tax, under the head,— (i) “Salaries“ or income in the nature of family pension as defined in the Explanation to clause (iia) of section 57; or (ii) “Income from house property”, where assessee does not own more than one house property and does not have any brought forward loss or loss to be carried forward under the head; or
(iii) “Income from other sources“, except winnings from lottery or income from race horses and does not have any loss under the head, be in Form SAHAJ (ITR-1) and be verified in the manner indicated therein: Provided that the provisions of this clause shall not apply to a person who,— (I) has assets (including financial interest in any entity) located outside India; (IA) has signing authority in any account located outside India; (IB) has income from any source outside India; (IC) has income to be apportioned in accordance with provisions of section 5A (ID) has claimed deduction under section 57, other than deduction claimed under clause (iia) thereof; (IE) is a director in any company;
(IF) has held any unlisted equity share at any time during the previous year; (IG) is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assesse; (II) has claimed any relief of tax under section 90 or 90A or deduction of tax under section 91; (III) has agricultural income, exceeding five thousand rupees; (IV) has total income, exceeding fifty lakh rupees; (V)has income taxable under section 115BBDA or (VI) has income of the nature referred to in section 115BBE; (VII) is a person in whose case tax has been deducted under section 194N; or (VIII) is a person in whose case payment or deduction of tax has been deferred under sub-section (2) of section 191 or sub-section (1C) of section 192;
in the case of a person being an individual not being an individual to whom clause (a) applies of a Hindu undivided family where the total income does not include income under the head business or profession, be in Form No. ITR-2 and be verified in the manner indicated therein; (ca) in the case of a person being an individual or a Hindu undivided family, who is a resident other than not ordinarily resident, or a firm, other than limited liability partnership firm, which is a resident, deriving “income under the head Profits or gains of business or profession” and such income is computed in accordance with special provisions referred to in section 44AD, section 44ADA and section 44AE of the Act for computation of such income, be in Form SUGAM (ITR-4) and be verified in the manner indicated therein: Provided that the provisions of this clause shall not apply to a person who,— (I) has assets (including financial interest in any entity) located outside India; (IA) has signing authority in any account located outside India; (IB) has income from any source outside India; (IC) has income to be apportioned in accordance with provisions of section 5A; (ID) is a director in any company; (IE) has held any unlisted equity share at any time during the previous year; (IF) has total income, exceeding fifty lakh rupees; (IG) owns more than one house property, the income of which is chargeable under the head “Income from house property”; (IH) has any brought forward loss or loss to be carried forward under any head of income; (IJ) is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assesse;
(II) has claimed any relief of tax under section 90 or 90A or deduction of tax under section 91; (III) has agricultural income, exceeding five thousand rupees; (IV) has income taxable under section 115BBDA; or (V) has income of the nature referred to in section 115BBE; (VI) has income of the nature specified in clause (vi) of sub-section (2) of section 17 on which tax is payable or deductible, as the case may be, under sub-section (2) of section 191 or sub-section (1C) of section 192;. (d) in the case of a person being an individual or a Hindu undivided family other than the individual or Hindu undivided family referred to in clause (a) or clause (c) or clause (ca) and having income under the head business or profession, be in Form No.ITR-3 and be verified in the manner indicated therein; (e) in the case of a person not being an individual or a Hindu undivided family or a company or a person to which clause (g) applies, be in Form No. ITR-5 and be verified in the manner indicated therein; (f) in the case of a company not being a company to which clause (g) applies, be in Form No. ITR-6 and be verified in the manner indicated therein; (g) in the case of a person including a company whether or not registered under section 25 of the Companies Act, 1956 (1 of 1956), required to file a return under sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) or sub-section (4E) or sub-section (4F) of section 139, be in Form No. ITR-7 and be verified in the manner indicated therein;
