This Income tax return form is for individuals opting for the presumptive taxation scheme, where business income is below Rs. 2 crores or professional income is below Rs. 50 lakhs. ITR-5: Partnerships, LLPs, and More This income tax form must be filed by partnership firms, Limited Liability...
Assessment Year: Income Tax return, ITR, is bound to an assessment year. For income earned in FY 2015-6 assessment year is AY 2016-17. Income Tax return forms(physical and excel) of AY 2016-17 and AY 2015-16 are different,. A revised return for the correct assessment year needs to b...