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If an Individuals / HUF is having income from salary/pension (for ordinarily resident person) and Income or loss from one house property (excluding brought forward and carried forward losses) and Income from other sources (other than winnings from lottery and racehorses or losses under this head) then he can file his tax return in ITR-1
If an Individuals / HUF is having any other type of income other than mentioned above then he has to file his income tax return in ITR-3 or ITR-2.
Partnership firms in India can be Registered partnerships or unregistered partnerships. If a partnership firm has a registration certificate from the registrar of firms then it is treated as a registered firm else it is an unregistered firm.
A partnership firm is a separate entity. Both registered and unregistered partnership firms are taxed under the income tax slab for partnership firm and their partners are taxed under the individuals’ tax slabs.
Partnership firms are required to file an income tax returns in form ITR 5.
Limited Liability Partnership (LLP) is a corporate entity formed under the Limited Liability Partnership Act, 2008. LLPs need to file MCA annual returns in Form 8 and Form 11 as these are treated as separate legal entities and also income tax returns every year.
LLP’s are required to file an income tax returns in form ITR 5.
Any company registered in India as per the companies act is treated as an artificial judicial person having a separate identity. All companies registered in India are required to file their income tax returns before 30th September every year. As per the Income Tax Act, Companies will be categorized into domestic and foreign companies for the purpose of income tax return filing.
Any company registered in India needs to file ITR-6 or ITR-7 depending on the categorization of the business.